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ill give 5 stars On January 1, 2024. The Barrel Company purchased merchandise from a supplier. Payment was a noninterest-bearing note requiring five annual payments
ill give 5 stars On January 1, 2024. The Barrel Company purchased merchandise from a supplier. Payment was a noninterest-bearing note requiring five annual payments of $23,000 on each December 31 beginning on December 31,2024 , and a lump-sum payment of $130,000 on December 31,2028 . A 10% interest rate properly reflects the time value of money in this situation. Calculate the amount at which Barrel should record the note payable and corresponding merchandise purchased on January 1,2024. Required: Note: Round your final answers to nearest whole dollar amount. Use tables, Excel, or a financial calculator. (EV of \$1, PV of S1, EVA of \$1. PVA of \$1. EVAD of $1 and-PVAD of \$1) able 11 uturv value of $1 IMBL. 2 Prount valme of $1 ra_diman Anwaltv of \$ table 4 Prosent Value of an Orditary Asinity of \$1 ble 5 Fubare Value of an Anauity Due of $1 tal IV
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