On December 30, 2021, JALINON Company sold a machine to GONZALES Company in exchange for a non-interest bearing note requiring ten annual payments of P10,000. GONZALES made the first payment on December 30, 2021. The market interest rate for similar notes at date of issuance was 8%. Information on present value factors is as follows: Period Present value of 1 at 8% Present value of ordinary annuity of 1 at 8% 9 0.50 6.25 10 0.46 6.71 38. In its December 31, 2021 statement of financial position, what amount should JALINON report as non-current portion of the note receivable?

On December 31, 2021, Ainsley Company finished consultation services and accepted exchange a zero interest bearing of $ 995,000 and a due date of December 31, 2024. The implied interest rate is 12%. The following interest factors are provided Table Factors For Three Periods Future Value of 1 Present Value of 1 Future Value of Ordinary Annuity of 1 Present Value of Ordinary Annuity of 1 Interest Rate 6% 12% 1.19102 1.40493 0.83962 0.71178 3.18360 3.37440 2.67301 2.40183 Instructions (a) Determine the present value of the note. (b) Prepare the journal entries for the initial transaction , recognition of Interest each year, and the colle Instructions: Compute both a must show your work

On Dec 30, 2020 Fox purchased a machine from Grisley Corp in exchange for a zero-interest bearing note requiring eight payments. A down payment was made on Dec 30, 2020 and the note's rents are due annually beg 12/30/2021 Note: the down payment IS the first payment of the notes rents At date of issuance the prevailing rate of interest for this type of note was 11%  Present value factor are as follows: If the note balance to Grisley Corp net of the down payment is $376,960 on 12/30/2020 then what is the value of each payment? My answer is $47,120 is that correct   thank you Brenda

Dilraba Co. sold equipment in exchange for a P750,000, non-interest bearing note receivable in 5 equal annual installments starting December 31, 2021. The cash selling price for this equipment is P675,000. (use fraction method) How much in the unearned income on December 31, 2023? What is the denominator of the fraction used to distribute the unearned interest? ( Previous Continue >