16. On January 1, 2023, Walton Corp. accepted a $15,000, 12%, 5-year interest-bearing installment note in...
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16. On January 1, 2023, Walton Corp. accepted a $15,000, 12%, 5-year interest-bearing installment note in exchange for merchandise sold. The note will be paid back in five annual installments of $4,161 each year for five years beginning on December 31, 2023. After the company receives the first installment payment on 12/31/23, what will be the carrying value of this note on the balance sheet on 12/31/232 16. On January 1, 2023, Walton Corp. accepted a $15,000, 12%, 5-year interest-bearing installment note in exchange for merchandise sold. The note will be paid back in five annual installments of $4,161 each year for five years beginning on December 31, 2023. After the company receives the first installment payment on 12/31/23, what will be the carrying value of this note on the balance sheet on 12/31/232
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