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look at picture thanks! President Company purchased merchandise from Captain Corporation on September 30, 2024. Payment was made in the form of a noninterest-bearing note
look at picture thanks!
President Company purchased merchandise from Captain Corporation on September 30, 2024. Payment was made in the form of a noninterest-bearing note requiring President to make six annual payments of $6,600 on each September 30 , beginning on September 30,2027. Required: Calculate the amount at which President should record the note payable and corresponding purchase on September 30,2024 . assuming that an interest rate of 10% properly reflects the time value of money in this situation. Note: Use tables, Excel, or a financial calculator, Round your final answers to nearest whole dollar amount. Round your intermediate calculations to the nearest whole dollar. (EV of \$1, PV of \$1, EVA of \$1. PVA of S1, EVAD of $1 and PVAD of S1) Step by Step Solution
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