Greenwell Farm Equipment sells a tractor to Farmer for $50,000 on January 1, 2016. The tractor is
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Question:
Greenwell Farm Equipment sells a tractor to Farmer for $50,000 on January 1, 2016. The tractor is delivered that day.
Greenwell agrees that the farmer may delay the payment for 2 years. The market rate of interest is 6%. Refer to Greenwell Farms. How much sales revenue will Greenwell report on January 1,2016?
A) $44,500
B) $53,000
C) $50,000
D) $47,000
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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