On March 1, 2024, Tesla sold equipment to a customer and received an installment note requiring payments of $20,000 annually for 5 years. The first payment was received by Tesla on March 1, 2024. The market interest rate for this type of note is 10%. The total sales revenue Tesla would record for this sale on March 1, 2024 is: A) $100,000 B) $82,712 C) $76,380 D) $20,000

On March 1, 2024, Tesla sold equipment to a customer and received an installment note requiring payments of $20,000 annually for 5 years. The first payment was received by Tesla on March 1, 2024. The market interest rate for this type of note is 10%. The total sales revenue Tesla would record for this sale on March 1, 2024 is: A) $100,000 B) $82,712 C) $76,380 D) $20,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 10MC: On January 1, 2019, Park Company accepted a 36,000, non-interest-bearing, 3-year note from a major...

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