Presented below are two independent revenue arrangements for Bramble Company. Respond to the requirements related to each revenue arrangement. Click here to view factor table.

(a)

Bramble sells 3D printer systems. Recently, Bramble provided a special promotion of zero-interest financing for 2 years on any new 3D printer system. Assume that Bramble sells Lyle Cartright a 3D system, receiving a $6,200 zero-interest-bearing note on January 1, 2020. The cost of the 3D printer system is $4,960. Bramble imputes a 6% interest rate on this zero-interest note transaction. Prepare the journal entry to record the sale on January 1, 2020, and compute the total amount of revenue to be recognized in 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,971.)

Account Titles and Explanation	Debit	Credit
(To record sales)
(To record cost of goods sold)

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