{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-28T06:13:37-04:00", "answer_date": "2024-05-28 06:13:37", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1823134", "url": "\/study-help\/questions\/lincoln-company-purchased-merchandise-from-grandville-corp-on-september-30-1823134", "question_creation_date_js": "2024-05-28T06:13:37-04:00", "question_creation_date": "May 28, 2024 06:13 AM", "meta_title": "[Solved] Lincoln Company purchased merchandise fro | SolutionInn", "meta_description": "Answer of - Lincoln Company purchased merchandise from Grandville Corp. on September 30, 2021. Payment was made in the form of a n | SolutionInn", "meta_keywords": "lincoln,company,purchased,merchandise,grandville,corp,september,30,2021,payment,made,form", "question_title_h1": " Lincoln Company purchased merchandise from Grandville Corp. on September 30, 2021. Payment was made in the form of a noninterest-bearing note requiring Lincoln to", "question_title": " Lincoln Company purchased merchandise from Grandville Corp. on September 30, 2021.", "question_title_for_js_snippet": "Lincoln Company purchased merchandise from Grandville Corp on September 30, 2021 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, 2024 (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided Round your final answer to nearest whole dollar amount ) Required Calculate the amount at which Lincoln should record the note payable and corresponding purchases on September 30, 2021, assuming that an interest rate of 7 properly reflects the time value of money in this situation Amount recorded", "question_description": "\"image\"image\"image\"image\"image\"image\"image", "transcribed_text": "Lincoln Company purchased merchandise from Grandville Corp. on September 30, 2021. 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, 2024. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your final answer to nearest whole dollar amount.) Required: Calculate the amount at which Lincoln should record the note payable and corresponding purchases on September 30, 2021, assuming that an interest rate of 7% properly reflects the time value of money in this situation. Amount recorded", "related_book": { "title": "Fundamentals of Cost Accounting", "isbn": "78025524, 978-0078025525", "edition": "4th edition", "authors": "William Lanen, Shannon Anderson, Michael Maher", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/269.jpg", "uri": "\/textbooks\/fundamentals-of-cost-accounting-4th-edition-269", "see_more_uri": "" }, "free_related_book": { "isbn": "3642269060", "uri": "\/textbooks\/wireless-and-mobile-networking-second-ifip-wg-6-8-joint-conference-wmnc-2009-gdansk-poland-september-9-11-2009-proceedings-2009th-edition-978-3642269066-195166", "name": "Wireless And Mobile Networking Second Ifip Wg 6 8 Joint Conference Wmnc 2009 Gdansk Poland September 9 11 2009 Proceedings", "edition": "2009th Edition" }, "question_posted": "2024-05-28 06:13:37", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/2-wage-bracket-method-tables-for-manual-payroll-systems-with-663427", "description": "On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: Joplin Company Absorption Costing Income...", "stars": 0 }, { "url": "\/neutrality-is-about-freedom-from-bias-prudence-is-a-bias", "description": "Neutrality is about freedom from bias. 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