On January 1, Seven Garry Corp. sold $100,000 worth of cat grooming products to Roberta Inc.In exchange for a six-year non-interest-bearing LTNR. Roberta's incremental borrowing rate is 4%. The accrued interest will be recorded annually on December 31. 

What will be the discount on the LTNR?

Answer rating: 100% (QA)

To calculate the discount on the longterm noninterestbearing note receivable LTNR we need to determi... View the full answer