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On January 1, 2021, Glanville Company sold goods to Otter Corporation Otter signed an installment note requiring payment of $17,000 annually for five 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 $17,000 annually for five 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. PV of $1. FVA of $1, PVA of $1. FVAD of $1 and PVAD of S1 (Use appropriate factor(s) from the tables provided.) Multiple Choice 567,876 O None of these answer choices are correct O E o $67,876 o None of these answer choices are correct. o S73,306 o S85,000

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