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On January 1. Year 1. StrangeTimes Inc. sells equipment financed with a $60,000, two-year, zero- interest bearing note, issued by its customer. Assume an implied

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On January 1. Year 1. StrangeTimes Inc. sells equipment financed with a $60,000, two-year, zero- interest bearing note, issued by its customer. Assume an implied rate of 6%. Round answers to two decimal places, 1. What is the balance of Notes Receivable, Net (ie., book value of the note) on December 31. Year 1? 2. What is interest revenue recognized for Year 1

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