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On January 1, 2019, Black Diamond Company agreed to sell a diamond to a customer at a special price of $10,000. Payment terms were $2,000
On January 1, 2019, Black Diamond Company agreed to sell a diamond to a customer at a special price of $10,000. Payment terms were $2,000 on January 1, 2019, and $2,000 each January 1 from 2020 to 2023. Black Diamond normally charges 5% interest to its customers but did not charge interest on this special sale. Required How much revenue, and how much accounts receivable, should Black Diamond recognize on January 1, 2019? (Use a financial calculator and enter your answers as positive amounts, rounded to the nearest whole dollar.) January 1, 2019 Revenue Receivable
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