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mework - Chapter X + ses/25820/assignments/3214238 pard Chart - Test Re. www.seant. My Heath Record. WieYPLUS - What is online me. --/25 Question 8 View Policies Current Attempt in Progress Ayayal Inc. had the following long-term receivable account balances at December 31, 2019. Note receivable from sale of division Note receivable from officer $2.100.000 477,800 Transactions during 2020 and other information relating to Ayayal's long-term receivables were as follows. 1. The $2.100,000 note receivable is dated May 1, 2019, bears interest at 10%, and represents the balance of the consideration received from the sale of Ayayal's electronics division to New York Company. Principal payments of $700.000 plus appropriate interest are due on May 1, 2020 2021. and 2022. The first principal and interest payment was made on May 1, 2020. Collection of the note installments is reasonably assured. 2. The $477.800 note receivable is dated December 31, 2019 bears interest at 9% and is due on December 31, 2022. The note is due from Sean May president of AyavaiInc. and is collateralized by 11,945 shares of Ayayai's common stock. Interest is payable annually on December 31. and all interest payments were paid on their due dates through December 31, 2020. The quoted market price of Ayayai's common stock was $47 per share on December 31, 2020 3. On April 1, 2020, Ayayal sold a patent to Pennsylvania Company in exchange for a $104,000 zero-interest-bearing note due on April 1.2022. There was no established exchange price for the patent and the note had no ready market. The prevailing rate of interest for a note of this type at April 1. 2020 was 13%. The present value of $1 for two periods at 13x is 0.783 (use this factor). The patent had a carrying value of $41,600 at January 1, 2020 and the amortization for the year ended December 31, 2020 would have been $8.320. The collection of the note receivable from Pennsylvania is reasonably assured. 4. On July 1.2020. Avayai sold a parcel of land to Splinter Company for $200.000 under an installment sale contract. Splinter made a $60,000 cash down payment on July 1, 2020, and signed a 4-year 12% note for the $140.000 balance. The equal annual payments of principal and interest on the note will be $45.125 payable on July 1, 2021, through July 1, 2024. The land could have been sold at an established cash price of $200,000. The cost of the land to Ayayal was $150,000. Circumstances are such that the collection of the installments on the note is reasonably assured. MacBook Air Homework Chapter + courses/25820 assignments/3214238 Dashboard MyChart Test Re h etos www.seal My Health Record. WiePLUS What is online me 5,125 Prepare the long-term receivables section of Ayayal's balance sheet at December 31, 2020. (Round answers to decimal places AYAYAT INC. Long-Term Receivables Section of Balance Sheet e Textbook and Media Prepare a schedule showing the current portion of the long-term receivables and accrued interest receivable that would appear in Ayaya sheet at December 31, 2020. (Round answers to decimal places, es 5,129.) AYAYAI INC. Selected Balance Sheet Balances Dashboard iments/3214238 MyChart - Test Re... https://www.seatti CTEALUVUN G uia My Health Record. W PLUS - What is online ma. Prepare a schedule showing the current portion of the long-term receivables and accrued interest receivable that would appear in Ayayal balance sheet at December 31, 2020. (Round answers to O decimal places, es 5,129) AYAYAI INC. Selected Balance Sheet Balances e Textbook and Media Prepare a schedule showing interest revenue from the long-term receivables that would appear on Ayayal's income statement for the year ended dans to decimal places, eg. 5,125) shboard MyChart - Test Re h ttps://www.seattl. My Health Record. WileyPLUSD What is online e Textbook and Media Prepare a schedule showing interest revenue from the long-term receivables that would appear on Ayayal's income statement for the year ended December 31, 2020. (Round answers to O decimal places, eg. 5,125.) AYAYAI INC. Interest Revenue from Long-Term Receivables e Textbook and Media Submit Answer Attempts: 0 of 3 used Save for Later mework - Chapter X + ses/25820/assignments/3214238 pard Chart - Test Re. www.seant. My Heath Record. WieYPLUS - What is online me. --/25 Question 8 View Policies Current Attempt in Progress Ayayal Inc. had the following long-term receivable account balances at December 31, 2019. Note receivable from sale of division Note receivable from officer $2.100.000 477,800 Transactions during 2020 and other information relating to Ayayal's long-term receivables were as follows. 1. The $2.100,000 note receivable is dated May 1, 2019, bears interest at 10%, and represents the balance of the consideration received from the sale of Ayayal's electronics division to New York Company. Principal payments of $700.000 plus appropriate interest are due on May 1, 2020 2021. and 2022. The first principal and interest payment was made on May 1, 2020. Collection of the note installments is reasonably assured. 2. The $477.800 note receivable is dated December 31, 2019 bears interest at 9% and is due on December 31, 2022. The note is due from Sean May president of AyavaiInc. and is collateralized by 11,945 shares of Ayayai's common stock. Interest is payable annually on December 31. and all interest payments were paid on their due dates through December 31, 2020. The quoted market price of Ayayai's common stock was $47 per share on December 31, 2020 3. On April 1, 2020, Ayayal sold a patent to Pennsylvania Company in exchange for a $104,000 zero-interest-bearing note due on April 1.2022. There was no established exchange price for the patent and the note had no ready market. The prevailing rate of interest for a note of this type at April 1. 2020 was 13%. The present value of $1 for two periods at 13x is 0.783 (use this factor). The patent had a carrying value of $41,600 at January 1, 2020 and the amortization for the year ended December 31, 2020 would have been $8.320. The collection of the note receivable from Pennsylvania is reasonably assured. 4. On July 1.2020. Avayai sold a parcel of land to Splinter Company for $200.000 under an installment sale contract. Splinter made a $60,000 cash down payment on July 1, 2020, and signed a 4-year 12% note for the $140.000 balance. The equal annual payments of principal and interest on the note will be $45.125 payable on July 1, 2021, through July 1, 2024. The land could have been sold at an established cash price of $200,000. The cost of the land to Ayayal was $150,000. Circumstances are such that the collection of the installments on the note is reasonably assured. MacBook Air Homework Chapter + courses/25820 assignments/3214238 Dashboard MyChart Test Re h etos www.seal My Health Record. WiePLUS What is online me 5,125 Prepare the long-term receivables section of Ayayal's balance sheet at December 31, 2020. (Round answers to decimal places AYAYAT INC. Long-Term Receivables Section of Balance Sheet e Textbook and Media Prepare a schedule showing the current portion of the long-term receivables and accrued interest receivable that would appear in Ayaya sheet at December 31, 2020. (Round answers to decimal places, es 5,129.) AYAYAI INC. Selected Balance Sheet Balances Dashboard iments/3214238 MyChart - Test Re... https://www.seatti CTEALUVUN G uia My Health Record. W PLUS - What is online ma. Prepare a schedule showing the current portion of the long-term receivables and accrued interest receivable that would appear in Ayayal balance sheet at December 31, 2020. (Round answers to O decimal places, es 5,129) AYAYAI INC. Selected Balance Sheet Balances e Textbook and Media Prepare a schedule showing interest revenue from the long-term receivables that would appear on Ayayal's income statement for the year ended dans to decimal places, eg. 5,125) shboard MyChart - Test Re h ttps://www.seattl. My Health Record. WileyPLUSD What is online e Textbook and Media Prepare a schedule showing interest revenue from the long-term receivables that would appear on Ayayal's income statement for the year ended December 31, 2020. (Round answers to O decimal places, eg. 5,125.) AYAYAI INC. Interest Revenue from Long-Term Receivables e Textbook and Media Submit Answer Attempts: 0 of 3 used Save for Later