Question
Hello, I need help to solve step by step. I know the answer on the below, so please help me to understand it. Thank you!
Hello, I need help to solve step by step. I know the answer on the below, so please help me to understand it. Thank you! Testbank Multiple Choice Question 113 On December 31, 2020, Bramble Corp. sold for $150000 an old machine having an original cost of $246000 and a book value of $96000. The terms of the sale were as follows: $54000 down payment $48000 payable on December 31 each of the next two years The agreement of sale made no mention of interest; however, 7% would be a fair rate for this type of transaction. What should be the amount of the notes receivable net of the unamortized discount on December 31, 2020 rounded to the nearest dollar? (The present value of an ordinary annuity of 1 at 7% for 2 years is 1.80802.) correct answer: $86785
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