Installment Sales and Revenue for Glanville Co
Not what you're looking for?
On 1/1/2011 Glanville Co sold goods to Otter Corp. Otter signed a non-interest bearing note requiring payment of $15,000 annually for six years. The first payment was made on 1/1/2011. The prevailing interest rate for this type of note at date of issuance was 8%. Glanville should record the sales revenue in January 2011 of:
$90000
$69343
$74891
None of the above.
Purchase this Solution
Solution Summary
The solution provide computation to record sales where customer is making fixed yearly payment.
Solution Preview
Non-bearing note is just like zero coupon bonds. This is not a installment sales. Sales has occured and payment has ...
Purchase this Solution
Free BrainMass Quizzes
Organizational Leadership Quiz
This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.
Social Media: Pinterest
This quiz introduces basic concepts of Pinterest social media
MS Word 2010-Tricky Features
These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.
Situational Leadership
This quiz will help you better understand Situational Leadership and its theories.