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o 6 ExtraCredit Homework problems A cornpany financed the sale Of equipment and recorded a note receivable for the sale. The accountant inappropriately record the sale at the coupon rate instead of market rate and fair value, received tes receivable price timated tax payment Note etm o' the note Oupon rate Oet rate $419. The note is dtx in equal annual payments of principle ond Witerost. Incormct income statement. lot lhe year ended December 31 pen ses retax income S 739. 59100 153.08 107.159 What is the correct interest revenue 20XP Note; Interest revenue in year is computed as the fair value of the note times the market rate of interest,