On December 31, 2020, SJT Co. sold a piece of equipment for $100,000. The terms of sales were:

$20,000 downpayment

$40,000 payable on December 31 at the end of 2021 and the end of 2022.

The agreement makes no mention of interest; however, 9% would be a fair rate for this type of transaction. What should be the amount of the note receivable recorded at December 31, 2020, rounded to the nearest dollar?

Question 5 options:

	$80,000
	$90,364
	$140,728
	$70,364