Question: Sleeping Corp issued a $270,000, three-year, zero-interest-bearing note payable to Awake Corp. for equipment on April 30, 2020. Sleeping would normally pay interest at 6%.

Sleeping Corp issued a $270,000, three-year, zero-interest-bearing note payable to Awake Corp. for equipment on April 30, 2020. Sleeping would normally pay interest at 6%. Sleeping has a December 31 year-end and will repay the note with three equal yearly payments of $90,000. Sleeping follows IFRS.

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