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

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

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Accounting Principles

ISBN: 978-0470534793

10th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Sep 26, 2022 08:27 AM

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

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Polley Company will receive 28640 as cash upon sale of the 5year zerointe...View the full answer

Accounting Principles

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