Question: Please answer these questions: I have some numbers wrong. Thank you Q1 Q2 Q3 Q4 Lincoln Company purchased merchandise from Grandville Corp. on September 30,

Please answer these questions: I have some numbers wrong. Thank you

Q1 Please answer these questions: I have some numbers wrong. Thank you Q1

Q2 Q2Q3Q4 Lincoln Company purchased merchandise from Grandville Corp. on September 30, 2013. Q3 Payment was made in the form of a noninterest-bearing note requiring Lincoln Q4 to make six annual payments of $5,000 on each September 30, beginning

Lincoln Company purchased merchandise from Grandville Corp. on September 30, 2013. Payment was made in the form of a noninterest-bearing note requiring Lincoln to make six annual payments of $5,000 on each September 30, beginning on September 30, 2016. (FV of s1, PV of s1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the amount at which Lincoln should record the note payable and corresponding purchases on September 30, 2013, assuming that an interest rate of 10% properly reflects the time value of money in this situation. Lincoln Company purchased merchandise from Grandville Corp. on September 30, 2013. Payment was made in the form of a noninterest-bearing note requiring Lincoln to make six annual payments of $5,000 on each September 30, beginning on September 30, 2016. (FV of s1, PV of s1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the amount at which Lincoln should record the note payable and corresponding purchases on September 30, 2013, assuming that an interest rate of 10% properly reflects the time value of money in this situation

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