Question: On June 3 0 , 2 0 2 4 , the Esquire Company sold merchandise to a customer and accepted a noninterest - bearing note

On June 30,2024, the Esquire Company sold merchandise to a customer and accepted a noninterest-bearing note in exchange. The note requires payment of $35,000 on March 31,2025. The fair value of the merchandise exchanged is $33,950. Esquire views the financing component of this contract as significant.

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