Question: please help me with this question, thank you! Accounting, Analysis, and Principles Ayayai Co. accepts a note receivable from a customer in exchange for some

please help me with this question, thank you! please help me with this question, thank you! Accounting, Analysis, and

Accounting, Analysis, and Principles Ayayai Co. accepts a note receivable from a customer in exchange for some damaged inventory. The note requires the customer make semiannual installments of $50,800 each for 10 years. The first installment begins six months from the date the customer took delivery of the damaged inventory. Ayayai's management estimates that the fair value of the damaged inventory is $582,672. Click here to view factor tables What interest rate is Ayayai implicitly charging the customer? Express the rate as an annual rate but assume semiannual compounding. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 7%.) The interest rate is %. LINK TO TEXT LINK TO TEXT LINK TO TEXT At what dollar amount do you think Ayayai should record the note receivable on the day the customer takes delivery of the damaged inventory? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 5,125.) Fair-value LINK TO TEXT LINK TO TEXT LINK TO TEXT

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!