Analyzing Transact 1. On January 1, 2010, Ott Co. sold goods to Flynn Company. Flynn signed a zero-interest-bearing note requiring payment of 580,000 annually for seven years. The first payment was made on January 1, 2010. The prevailing rate of interest for this type of note at date of issuance was 10% Information on present value Ott should record sales revenue in January 2010 of