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On December 31, 2020, Sheffield Corp. sold an old machine. The terms of the sale were as follows: $59,000 down payment $46,500 payable on December
On December 31, 2020, Sheffield Corp. sold an old machine. The terms of the sale were as follows: $59,000 down payment $46,500 payable on December 31 each of the next two years (end of year payments) The agreement of sale made no mention of interest; however, 8% would be a fair rate for this type of transaction. What should be the amount of the notes receivable net of the unamortized discount on December 31, 2020 rounded to the nearest dollar? O$82.922 $59,000 $93,000 O $81.799
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