On December 1 , Kirby Co, issued 2 notes receivalule S friancial statrements an of the bast day of each month Note A was a $10 000,3 month, non interest bearing note with a present vahue of 59200 iswed to David Corp for the sale of goods The market rate of interest on simllar notes is 12 Note B was a $10,000,3 month, 12 note issued to Stacey Inc in exchange for cash The first 2 questions concern Note A ONLY The last 4 questions concern Note B ONLY At what amount should Kirby Co record as 5 ales on 12 1 in exchange for Note A ow much cash will David pay Kirby when Note A matures At what amount should Kirby Co record as Sales on 12 1 in exchange for Note A How much cash will David pay Kirby when Note A matures At what amount should Note B be recorded on 12 1 by Kirby as Notes Receivable How much interest revenue will Kirby report on 12 31 for Note B Assuming Stacey pays off Note B on 3 1, how much would Kirby report as interest receivable from Note B on 2 28 (using months to calculate interest) How much cash will Stacey pay Kirby on 3 1 to settle Note B On December 1 , Kirby Co, issued 2 notes receivalule S friancial statrements an of the bast day of each month Note A was a $10 000,3 month, non interest bearing note with a present vahue of 59200 iswed to David Corp for the sale of goods The market rate of interest on simllar notes is 12 Note B was a $10,000,3 month, 12 note issued to Stacey Inc in exchange for cash The first 2 questions concern Note A ONLY The last 4 questions concern Note B ONLY At what amount should Kirby Co record as 5 ales on 12 1 in exchange for Note A ow much cash will David pay Kirby when Note A matures At what amount should Kirby Co record as Sales on 12 1 in exchange for Note A How much cash will David pay Kirby when Note A matures At what amount should Note B be recorded on 12 1 by Kirby as Notes Receivable How much interest revenue will Kirby report on 12 31 for Note B Assuming Stacey pays off Note B on 3 1, how much would Kirby report as interest receivable from Note B on 2 28 (using months to calculate interest) How much cash will Stacey pay Kirby on 3 1 to settle Note B

Question

On December 1 , Kirby Co, issued 2 notes receivalule  S friancial statrements an of the bast day of each month  Note A was a $10 000,3 month, non interest bearing note with a present vahue of 59200 iswed to David Corp  for the sale of goods  The market rate of interest on simllar notes is 12   Note B was a $10,000,3 month, 12  note issued to Stacey Inc  in exchange for cash  The first 2 questions concern Note A ONLY  The last 4 questions concern Note B ONLY  At what amount should Kirby Co  record as 5 ales on 12 1 in exchange for Note A  ow much cash will David pay Kirby when Note A matures  At what amount should Kirby Co  record as Sales on 12 1 in exchange for Note A  How much cash will David pay Kirby when Note A matures  At what amount should Note B be recorded on 12 1 by Kirby as  Notes Receivable   How much interest revenue will Kirby report on 12 31 for Note B   Assuming Stacey pays off Note B on 3 1, how much would Kirby report as interest receivable from Note B on 2 28 (using months to calculate interest)  How much cash will Stacey pay Kirby on 3 1 to settle Note B   On December 1 , Kirby Co, issued 2 notes receivalule  S friancial statrements an of the bast day of each month  Note A was a $10 000,3 month, non interest bearing note with a present vahue of 59200 iswed to David Corp  for the sale of goods  The market rate of interest on simllar notes is 12   Note B was a $10,000,3 month, 12  note issued to Stacey Inc  in exchange for cash  The first 2 questions concern Note A ONLY  The last 4 questions concern Note B ONLY  At what amount should Kirby Co  record as 5 ales on 12 1 in exchange for Note A  ow much cash will David pay Kirby when Note A matures  At what amount should Kirby Co  record as Sales on 12 1 in exchange for Note A  How much cash will David pay Kirby when Note A matures  At what amount should Note B be recorded on 12 1 by Kirby as  Notes Receivable   How much interest revenue will Kirby report on 12 31 for Note B   Assuming Stacey pays off Note B on 3 1, how much would Kirby report as interest receivable from Note B on 2 28 (using months to calculate interest)  How much cash will Stacey pay Kirby on 3 1 to settle Note B

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On December 1 , Kirby Co, issued 2 notes receivalule. S friancial statrements an of the bast day of each month. Note A was a

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