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On January 1, 2021, Wooten Technology Associates sold computer equipment to the Denison Company. Delivery was made on January 1, 2021, but payment for the
On January 1, 2021, Wooten Technology Associates sold computer equipment to the Denison Company. Delivery was made on January 1, 2021, but payment for the equipment of $11,200 is not due until December 31, 2021. Assuming that Wooten views the time value of money to be a significant component of this transaction and that an 12% interest rate is applicable. (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.) How much sales revenue would Wooten recognize on January 1, 2021? (Round your final answer to nearest whole dollar amount.) Sales revenue
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