John had his own business in manufacturing and was extremely successful. He sold his business on February 1st of this year to a third  party for $4,000,000 using an installment note. The terms of the agreement are: 25% down payment, 8-year, 4% note that will start paying monthly installment payments starting on March 1, 2023. 

 
What is installment receivable as of 12/31/23?

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To calculate the installment receivable as of December 31 2023 we need to consider the amount of pri... View the full answer