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On April 19, 2024, Millipede Machinery sold a tractor to Thomas Hartwood, accepting a note promising payment of $130,000 in six years. The applicable effective interest rate is 6%. Note: Use appropriate factor(s) from the tables provided.(FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) What amount of sales revenue would Millipede recognize on April 19, 2024, for the Hartwood transaction? Note: Round your final answer to nearest whole dollar. Sales revenue

On April 19, 2024, Millipede Machinery sold a tractor to Thomas Hartwood, accepting a note promising payment of $130,000 in six years. The applicable effective interest rate is 6%. Note: Use appropriate factor(s) from the tables provided.(FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) What amount of sales revenue would Millipede recognize on April 19, 2024, for the Hartwood transaction? Note: Round your final answer to nearest whole dollar. Sales revenue

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On April 19, 2024, Millipede Machinery sold a tractor to Thomas Hartwood, accepting a note promising payment of $130,000 in six years. The applicable effective interest rate is 6%. Note: Use appropriate factor(s) from the tables provided.(FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) What amount of sales revenue would Millipede recognize on April 19, 2024, for the Hartwood transaction? Note: Round your final answer to nearest whole dollar. Sales revenue
Transcribed Image Text:On April 19, 2024, Millipede Machinery sold a tractor to Thomas Hartwood, accepting a note promising payment of $130,000 in six years. The applicable effective interest rate is 6%. Note: Use appropriate factor(s) from the tables provided.(FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) What amount of sales revenue would Millipede recognize on April 19, 2024, for the Hartwood transaction? Note: Round your final answer to nearest whole dollar. Sales revenue
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