On December 30, year 1, Chang Co. sold a machine to Door Co. in exchange for a noninterest-bearing note requiring ten al payments of $10,000. Door made the first payment on December 30, year 1. The market interest rate for similar notes at date of issuance was 8%. Information on present value factors is as follows: Period Present value of $1 at 8% Present value of ordinary annuity of 51 at 8% 0.50 6.25 0.46 6.71 9 10 In its December 31, year 1 balance sheet, what amount should Chang report as note receivable? $45,000 $67.100 $62,500 $46,000 Save for Later Attempts:0 of 1 used salmet femmes