5. On August 8, 2020, a company sells goods to a customer, accepting a 3-year, $4,000 note bearing 6% annual interest, payable semi-annually, in exchange for the goods. What amount does the company record as sales revenue on August 8, 2020? Write your final answer here:
5. On August 8, 2020, a company sells goods to a customer, accepting a 3-year, $4,000 note bearing 6% annual interest, payable semi-annually, in exchange for the goods. What amount does the company record as sales revenue on August 8, 2020? Write your final answer here:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:5.
On August 8, 2020, a company sells goods to a customer, accepting a 3-year, $4,000 note
bearing 6% annual interest, payable semi-annually, in exchange for the goods. What amount does the
company record as sales revenue on August 8, 2020?
Write your final answer here:
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