CALCULATOR PRINTER VERSION BACK NEX Problem 15-8 (Part Level Submission) Presented below are two independent revenue arrangements for Colbert Company Respond to the requirements related to each revenue arrangement Your answer is correct Colbert sells 3D printer systems. Recently, Colbert provided a special promotion of zero-interest financing for 2 years on any new 3D printer system. Assume that Colbert sells Lyle Cartright a 3D system, receiving a $5,000 rero-interest-bearing note on January 1, 2017. The cost of the 3D printer system is $4,000. Colbert putes a 6% interest rate on this zero-interest note transaction. Prepare the journal entry to record the sale on January 1, 2017, and compute the total amount of revenue to be recognized in 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Round present value factor calculations to decimal places, .. 1.25124 and the final answer to o decimal places .. 58,971.) Account Titles and Explanation Debit Credit Notes Receivable 5,000 Discount on Notes Receivable 550 Sales Revenue 4,450 (To record sales) Cost of Goods Sold 4,000 Inventory 4,000 (To record cost of goods sold) Click if you would like to show Work for this questions Open Show Work 1,27 wewe March DER 210 MA . A