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12/31/2019 Sold Equipment that has an cost of $150,000; The company received in exchange a down payment of $80,000 and a non-interest bearing Notefor $250,000
12/31/2019 | Sold Equipment that has an cost of $150,000; | ||
The company received in exchange a down payment of $80,000 and | |||
a non-interest bearing Notefor $250,000 to be paid 12/31/22 | |||
The market rate of interest for the note is 6%. | |||
Requirement A: | |||
Record the original transaction, for the seller. | |||
Record the transactions through 12/31/22 |
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