How do you find the interest in this problem?

Billy's Balloon Factory (BBF) enters into a sales contract with a new customer involving a significant financing component. Delivery occurs at the date of the contract inception. However, payment of the contract price of $530,000 will not occur until three years later. The interest rate charged in similar arrangements in the industry is 8%. What amount should BBF record as the sale in the journal? Which financial statement item is impacted by this transaction? Notes Receivable The problem is solving for: Present Value |