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to view the factor table PRESENT VALUE OF 1. to view the factor table PRESENT VALUE OF AN AN

to view the factor table PRESENT VALUE OF 1. to view the factor table PRESENT VALUE OF AN AN

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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Sandhill Inc. provided several entertainment services to Marigold Corporation in the past. On January 1, 2023, when the receivable for the past services was due, Marigold was unable to pay the outstanding balance. Sandhill agreed to accept a $390,000 non-interest bearing note payable on December 31, 2024. Marigold typically could arrange this kind of financing at an interest rate of 15%. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. (a) * Your answer is incorrect. Use 1. PV.1 Tables, 2. a financial calculator, or 3. Excel functions to arrive at the amount to record the note receivable. (Round present value factor calculations to 5 decimal places, e.g. 1.2512. Round PV tables and Excel function answers to O decimal places, e.g. 8,971 and round Financial calculator answer to 2 decimal places, e.g. 89.71.) 1. 2. 3. Using PV tables Financial calculator Excel function $ CA ta $ $ CA Note receivable 277497.80 277497.80 277497.80
Transcribed Image Text:Sandhill Inc. provided several entertainment services to Marigold Corporation in the past. On January 1, 2023, when the receivable for the past services was due, Marigold was unable to pay the outstanding balance. Sandhill agreed to accept a $390,000 non-interest bearing note payable on December 31, 2024. Marigold typically could arrange this kind of financing at an interest rate of 15%. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. (a) * Your answer is incorrect. Use 1. PV.1 Tables, 2. a financial calculator, or 3. Excel functions to arrive at the amount to record the note receivable. (Round present value factor calculations to 5 decimal places, e.g. 1.2512. Round PV tables and Excel function answers to O decimal places, e.g. 8,971 and round Financial calculator answer to 2 decimal places, e.g. 89.71.) 1. 2. 3. Using PV tables Financial calculator Excel function $ CA ta $ $ CA Note receivable 277497.80 277497.80 277497.80
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