Question: 15 Homework Saved Help Save & Exit Submit Check my work 2113 Lincoln Company purchased merchandise from Grandville Corp. on September 30, 2021. Payment

15 Homework Saved Help Save & Exit Submit Check my work 2113

15 Homework Saved Help Save & Exit Submit Check my work 2113 Lincoln Company purchased merchandise from Grandville Corp. on September 30, 2021. Payment was made in the form of a noninterest-bearing note requiring Lincoln to make six annual payments of $6,400 on each September 30, beginning on September 30, 2024. (EV of $1. PV of $1. EVA of $1. PVA of $1, EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your final answer to nearest whole dollar amount.) Required: Calculate the amount at which Lincoln should record the note payable and corresponding purchases on September 30, 2021, assuming that an interest rate of 11% properly reflects the time value of money in this situation. Amount recorded

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