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On January 1, 2021, Glanville Company sold goods to Otter Corporation Otter signed an installment note requiring payment of $25,000 annually for four years. The
On January 1, 2021, Glanville Company sold goods to Otter Corporation Otter signed an installment note requiring payment of $25,000 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 9%. Glanville should record sales revenue in January 2021 of: (EV of $1. PV of S1. FVA Of S1. PVA Of S1, FVAD of S1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice 5 $88.282 $100,000 $80,993 None of these answer choices are correct
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