Drake Company sold a 5-year, zero-interest-bearing $36,000 note receivable to Glenn Inc. Glenn wishes to earn 10%

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Drake Company sold a 5-year, zero-interest-bearing $36,000 note receivable to Glenn Inc. Glenn wishes to earn 10% over the remaining 4 years of the note. How much cash will Drake receive upon sale of the note?

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Accounting Principles

ISBN: 9781118566671

11th Edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Posted: Jan 30, 2014 03:07 AM

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Drake Company sold a 5-year, zero-interest-bearing $36,000 note receivable to Glenn Inc. Glenn wishes to earn 10%

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Discount rate from Table 1 is 68301 4 periods ...View the full answer

Accounting Principles

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