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6% Future Value of 1 (Future Value of a Single Sum) FVF ni = (1 + i)" (n) Periods 2% 24%% 3% 4% 5% 1 1.02000 1.02500 1.03000 1.04000 1.05000 1.04040 1.05063 1.06090 1.08160 1.10250 1.06121 1.07689 1.09273 1.12486 1.15763 1.08243 1.10381 1.12551 1.16986 1.21551 1.10408 1.13141 1.15927 1.21665 1.27628 ON - 1.06000 1.12360 1.19102 1.26248 1.33823 6 7 8 9 1.12616 1.14869 1.17166 1.19509 1.21899 1.15969 1.18869 1.21840 1.24886 1.28008 1.19405 1.22987 1.26677 1.30477 1.34392 1.26532 1.31593 1.36857 1.42331 1.48024 1.34010 1.40710 1.47746 1.55133 1.62889 1.41852 1.50363 1.59385 1.68948 1.79085 10 11 12 13 14 15 1.24337 1.26824 1.29361 1.31948 1.34587 1.31209 1.34489 1.37851 1.41297 1.44830 1.38423 1.42576 1.46853 1.51259 1.55797 1.53945 1.60103 1.66507 1.73168 1.80094 1.71034 1.79586 1.88565 1.97993 2.07893 1.89830 2.01220 2.13293 2.26090 2.39656 16 17 18 19 20 1.37279 1.40024 1.42825 1.45681 1.48595 1.48451 1.52162 1.55966 1.59865 1.63862 1.60471 1.65285 1.70243 1.75351 1.80611 1.87298 1.94790 2.02582 2.10685 2.19112 2.18287 2.29202 2.40662 2.52695 2.65330 2.54035 2.69277 2.85434 3.02560 3.20714 21 22 23 24 25 1.51567 1.54598 1.57690 1.60844 1.64061 1.67958 1.72157 1.76461 1.80873 1.85394 1.86029 1.91610 1.97359 2.03279 2.09378 2.27877 2.36992 2.46472 2.56330 2.66584 2.78596 2.92526 3.07152 3.22510 3.38635 3.39956 3.60354 3.81975 4.04893 4.29187 26 27 28 29 30 1.67342 1.70689 1.74102 1.77584 1.81136 1.90029 1.94780 1.99650 2.04641 2.09757 2.15659 2.22129 2.28793 2.35657 2.42726 2.77247 2.88337 2.99870 3.11865 3.24340 3.55567 3.73346 3.92013 4.11614 4.32194 4.54938 4.82235 5.11169 5.41839 5.74349 Presented below are two independent revenue arrangements for Marigold Company. Respond to the requirements related to each revenue arrangement. Click here to view factor table. Marigold sells 3D printer systems. Recently, Marigold provided a special promotion of zero-interest financing for 2 years on any new 3D printer system. Assume that Marigold sells Lyle Cartright a 3D system, receiving a $4,500 zem- interest-bearing note on January 1, 2020. The cost of the 3D printer system is $3,600. Marigold imputes a 5% 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 o for the amounts. Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to o decimal places e.g. 58,971.) Account Titles and Explanation Debit Credit (To record sales) (To record cost of goods sold) SHOW LIST OF ACCOUNTS LINK TO TEXT Marigold sells 20 nonrefundable $120 gift cards for 3D printer paper on March 1, 2020. The paper has a standalone selling price of $120 (cost $96). The gift cards expiration date is June 30, 2020. Marigold estimates that customers will not redeem 10% of these gift cards. The pattern of redemption is as follows. March 31 April 30 June 30 Redemption Total 50% 80 85 Prepare the 2020 journal entries related to the gift cards at March 1, March 31, April 30, and June 30. (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 sides and enter o for the amounts. Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to o decimal places e.g. 58,971.) Date Account Titles and Explanation Debit Credit Mar. 1, 2020 @ Mar 31, 2020 e Marigold sells 20 nonrefundable s120 gift cards for 3D printer paper on March 1, 2020. The paper has a standalone selling price of $120 (most 596). The gift cards expiration date is June 30, 2020. Marigald estimates that customers will not . The March 31 April 30 June 30 Redemption Total 50 % 80 85 Prepare the 2020 journal entries related to the gift cards at March 1, March 31, April 30, and Dune 30. (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 o for the amounts. Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to o decimal places e.g. 58,971.) Date Account Titles and Explanation Debit Credit Mar. 1.2020 e Mar. 31, 2020 @ (To record sales of cards redeemed) (To record cost of goods sold) Apr 30, 2020 (To record sales af cards redeemed) (To record cost of goods sold) Jun 30, 2020 B (To record sales of cards reamed) (To record cost of goods sold) (To record sales af cards not redeemed) 6% Future Value of 1 (Future Value of a Single Sum) FVF ni = (1 + i)" (n) Periods 2% 24%% 3% 4% 5% 1 1.02000 1.02500 1.03000 1.04000 1.05000 1.04040 1.05063 1.06090 1.08160 1.10250 1.06121 1.07689 1.09273 1.12486 1.15763 1.08243 1.10381 1.12551 1.16986 1.21551 1.10408 1.13141 1.15927 1.21665 1.27628 ON - 1.06000 1.12360 1.19102 1.26248 1.33823 6 7 8 9 1.12616 1.14869 1.17166 1.19509 1.21899 1.15969 1.18869 1.21840 1.24886 1.28008 1.19405 1.22987 1.26677 1.30477 1.34392 1.26532 1.31593 1.36857 1.42331 1.48024 1.34010 1.40710 1.47746 1.55133 1.62889 1.41852 1.50363 1.59385 1.68948 1.79085 10 11 12 13 14 15 1.24337 1.26824 1.29361 1.31948 1.34587 1.31209 1.34489 1.37851 1.41297 1.44830 1.38423 1.42576 1.46853 1.51259 1.55797 1.53945 1.60103 1.66507 1.73168 1.80094 1.71034 1.79586 1.88565 1.97993 2.07893 1.89830 2.01220 2.13293 2.26090 2.39656 16 17 18 19 20 1.37279 1.40024 1.42825 1.45681 1.48595 1.48451 1.52162 1.55966 1.59865 1.63862 1.60471 1.65285 1.70243 1.75351 1.80611 1.87298 1.94790 2.02582 2.10685 2.19112 2.18287 2.29202 2.40662 2.52695 2.65330 2.54035 2.69277 2.85434 3.02560 3.20714 21 22 23 24 25 1.51567 1.54598 1.57690 1.60844 1.64061 1.67958 1.72157 1.76461 1.80873 1.85394 1.86029 1.91610 1.97359 2.03279 2.09378 2.27877 2.36992 2.46472 2.56330 2.66584 2.78596 2.92526 3.07152 3.22510 3.38635 3.39956 3.60354 3.81975 4.04893 4.29187 26 27 28 29 30 1.67342 1.70689 1.74102 1.77584 1.81136 1.90029 1.94780 1.99650 2.04641 2.09757 2.15659 2.22129 2.28793 2.35657 2.42726 2.77247 2.88337 2.99870 3.11865 3.24340 3.55567 3.73346 3.92013 4.11614 4.32194 4.54938 4.82235 5.11169 5.41839 5.74349 Presented below are two independent revenue arrangements for Marigold Company. Respond to the requirements related to each revenue arrangement. Click here to view factor table. Marigold sells 3D printer systems. Recently, Marigold provided a special promotion of zero-interest financing for 2 years on any new 3D printer system. Assume that Marigold sells Lyle Cartright a 3D system, receiving a $4,500 zem- interest-bearing note on January 1, 2020. The cost of the 3D printer system is $3,600. Marigold imputes a 5% 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 o for the amounts. Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to o decimal places e.g. 58,971.) Account Titles and Explanation Debit Credit (To record sales) (To record cost of goods sold) SHOW LIST OF ACCOUNTS LINK TO TEXT Marigold sells 20 nonrefundable $120 gift cards for 3D printer paper on March 1, 2020. The paper has a standalone selling price of $120 (cost $96). The gift cards expiration date is June 30, 2020. Marigold estimates that customers will not redeem 10% of these gift cards. The pattern of redemption is as follows. March 31 April 30 June 30 Redemption Total 50% 80 85 Prepare the 2020 journal entries related to the gift cards at March 1, March 31, April 30, and June 30. (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 sides and enter o for the amounts. Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to o decimal places e.g. 58,971.) Date Account Titles and Explanation Debit Credit Mar. 1, 2020 @ Mar 31, 2020 e Marigold sells 20 nonrefundable s120 gift cards for 3D printer paper on March 1, 2020. The paper has a standalone selling price of $120 (most 596). The gift cards expiration date is June 30, 2020. Marigald estimates that customers will not . The March 31 April 30 June 30 Redemption Total 50 % 80 85 Prepare the 2020 journal entries related to the gift cards at March 1, March 31, April 30, and Dune 30. (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 o for the amounts. Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to o decimal places e.g. 58,971.) Date Account Titles and Explanation Debit Credit Mar. 1.2020 e Mar. 31, 2020 @ (To record sales of cards redeemed) (To record cost of goods sold) Apr 30, 2020 (To record sales af cards redeemed) (To record cost of goods sold) Jun 30, 2020 B (To record sales of cards reamed) (To record cost of goods sold) (To record sales af cards not redeemed)
