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On June 1 , 2 0 1 8 , Johnson & Sons sold equipment to James Landscaping Service in exchange for a zero - interest
On June Johnson & Sons sold equipment to James Landscaping Service in exchange for a zerointerest bearing note with a face value of with payment due in months. The fair value of the equipment on the date of sale was The amount of revenue to be recognized on this transaction in is $
sales revenue and $
interest revenue
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