Question
On December 31, 2021 , Flint Corporation sold for $100,000 an old machine having an original cost of $180,000 and a book value of $80,000
On December 31, 2021 , Flint Corporation sold for $100,000 an old machine having an original cost of $180,000 and a book value of $80,000 . The terms of the sale were as follows : $20,000 down payment . $40,000 payable on December 31 each of the next two years . The agreement of sale made no mention of interest ; however , 7 % would be a fair rate for this situation . What should be the amount of the notes receivable , net of the unamortized discount , on December 31, 2021 , rounded to the nearest dollar? {Insert your answer in the box below. Your answer should only involve digits / numbers . Do not use a dollar sign ($) or a comma (,) in your answer (the system will give you an error message). For EPS calculations, use 2 decimal places.} Your Answer :
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