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Sunland Company sold $131000 of goods and accepted the customer's $131000 10%, 1-year note receivable in exchange. Assuming 10% approximates the market rate of return, how much would be reported for the year ending december 31 if sales was made of june 30? $13100. $0 $3275 $6550

Sunland Company sold $131000 of goods and accepted the customer's $131000 10%, 1-year note receivable in exchange. Assuming 10% approximates the market rate of return, how much would be reported for the year ending december 31 if sales was made of june 30? $13100. $0 $3275 $6550

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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Sunland Company sold $131000 of goods and accepted the customer's $131000 10%, 1-year note receivable in exchange. Assuming 10% approximates the market rate of return, how much would be reported for the year ending december 31 if sales was made of june 30?

$13100.

$0

$3275

$6550

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