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On January 1, 2021, Glanville Company sold goods to Otter Corporation. Otter signed an installment note requiring payment of $16,000 annually for four years. The
On January 1, 2021, Glanville Company sold goods to Otter Corporation. Otter signed an installment note requiring payment of $16,000 annually for four 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 8%. Glanville should record sales revenue in January 2021 of. (FV of $1. P of $1. EVA of $1. PVA of $1. EVAD of S1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice None of these answer choices are correct. $64,000 $52.994 $57,234
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