Question
On 12-31-12, A sold a machine to B. A will collect $25,000 every 12-31 with the first collection occurring on 12-31-18 and the last on
On 12-31-12, A sold a machine to B. A will collect $25,000 every 12-31 with the first collection occurring on 12-31-18 and the last on 12-31-34. Assume a 5% interest rate. What is the present value of A's receivable as of 12-31-12?
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Managerial Accounting
Authors: Ray H Garrison, Alan Webb, Theresa Libby
11th Canadian Edition
1259275817, 978-1259275814
