Natale Enterprises, a major real estate developer, recently accepted a $ 10,000,000, five- year, 2% note receivable

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Natale Enterprises, a major real estate developer, recently accepted a $ 10,000,000, five- year, 2% note receivable in exchange for products sold. Interest is paid annually. The current market rate of interest is 6%. The note is not publicly traded. Prepare the journal entry to record the sale. Ignore cost of goods sold.
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Intermediate Accounting

ISBN: 978-0132162302

1st edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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