Question
Greenwell Farm Equipment sells a tractor to Farmer for $50,000 on January 1, 2016. The tractor is delivered that day. Greenwell agrees that the farmer
Greenwell Farm Equipment sells a tractor to Farmer for $50,000 on January 1, 2016. The tractor is delivered that day.
Greenwell agrees that the farmer may delay the payment for 2 years. The market rate of interest is 6%. Refer to Greenwell Farms. How much sales revenue will Greenwell report on January 1,2016?
A) $44,500
B) $53,000
C) $50,000
D) $47,000
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Step: 1
a 44500 Cost of Tractor 50000 Farmer can make the payment ...
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Financial Reporting and Analysis
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
6th edition
9780077632182, 78025672, 77632184, 978-0078025679
