A four-year, 8,000, noninterest-bearing note was received by Willis company for a credit sale. Assuming a market

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A four-year, 8,000, noninterest-bearing note was received by Willis company for a credit sale. Assuming a market rate of 8%, determine (1) sales revenue recognized upon issuance of the note and (2) interest revenue recognized over the term of the note.

Round each answer to the nearest whole dollar.

1. Sales revenue

2. Interest revenue

Posted Date: Oct 22, 2021 10:54 PM

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A four-year, 8,000, noninterest-bearing note was received by Willis company for a credit sale. Assuming a market

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