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On January 1, 2021, Glanville Company sold goods to Otter Corporation. Otter signed an installment note requiring payment of $18,000 annually for six years. The

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On January 1, 2021, Glanville Company sold goods to Otter Corporation. Otter signed an installment note requiring payment of $18,000 annually for six years. The first payment was made on January 1, 2021. The prevailing rate of interest for this type of note at date of issuance was 10%. Glanville should record sales revenue in January 2021 of: (FV of $1, PV of $1, FVA of $1, PVA of $1 FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

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