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Calculate the amount at which Lincoln should record the notes payable and corresponding purchase on 9/30/2018 assuming that an interest rate of 7% reflects the
Calculate the amount at which Lincoln should record the notes payable and corresponding purchase on 9/30/2018 assuming that an interest rate of 7% reflects the time value of money in this situation Lincoln Company purchased merchandise from Grandville Corp. on September 30, 2018. Payment was made in the form of a noninterest-bearing note requiring Lincoln to make six annual payments of $6,800 on each September 30, beginning on September 30, 2021,(EV of S1. PV of S1. FVA of S1, PVA of $1. FVAD of $1 and PVAD of S) (Use appropriate factor(s) from the tables provided) Required: Calculate the amount at which Lincoln should record the note payable and corresponding purchases on September 30, 2018, assuming that an interest rate of 7% property reflects the time value of money in this situation. ded
Calculate the amount at which Lincoln should record the notes payable and corresponding purchase on 9/30/2018 assuming that an interest rate of 7% reflects the time value of money in this situation
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