tes the present value of the two cash B Note Receivable Problems Example: Interest Bearing Note Receivable s a delivery truck for $100.000 on January 1, 20X2. Cornerstone gives Ford Motor Co. a 2 year note market rate is also 10%). The truck cost Ford $80,000. Record the that bears interest at 10% (the otor Co. the journal entries for Ford at the sale date, end of the first year, ming (a) the interest is paid annually and (b) the interest is accrued at the end of the first year