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Homew On January 1, 2021. The Barrett Company purchased merchandise from a supplier. Payment was a noninterest bearing note requiring five annual payments of $26.000
Homew On January 1, 2021. The Barrett Company purchased merchandise from a supplier. Payment was a noninterest bearing note requiring five annual payments of $26.000 on each December 31 beginning on December 31, 2021, and a lump sum payment of $160,000 on December 31, 2025. A 9% interest rate properly reflects the time value of money in this situation. (V of S1 PV of SLEVA OF S1. PVA of $1. FVAD of $1 and PVAD of $D (Use appropriate factor(s) from the tables provided.) Requtred Calculate the amount at which Barrett should record the note payable and corresponding merchandise purchased on January 1 2021 (Round your final answer to nearest whole dollar amount.) Tatiana band on Amount Present Value CFOW Payments Lums foncorded
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