Use the following present value information to answer the questions below

N	PV Single Sum $1 Table 6-2		PV Ordinary Annuity Table 6-4
	5%	8%	5%	8%
1	0.95238	0.92593	0.95238	0.92593
2	0.90703	0.85734	1.85941	1.78326
3	0.86384	0.79383	2.72325	2.57710
4	0.82270	0.73503	3.54595	3.31231
5	0.78353	0.68058	4.32948	3.99271

On December 31, 2018 Seller Company sold goods to Buyer Company and in return received a $40,000 3-year note.

	Assume that the note is zero-interest bearing and that Buyer Companys borrowing rate is 5%. Interest is compounded annually. Determine the Sales Revenue recognized by Seller Company on December 31, 2018
	Assume that the note is zero-interest bearing and that Buyer Companys borrowing rate is 5%. Interest is compounded annually. Determine the Interest Revenue recognized by Seller Company on December 31, 2019
	Assume that the note is a 5% note and that Buyer Companys borrowing rate is 8%. Interest is paid annually. Determine the Sales Revenue recognized by Seller Company on December 31, 2018
	Assume that the note is a 5% note and that Buyer Companys borrowing rate is 8%. Interest is paid annually. Determine the Discount Amortized by Seller Company on December 31, 2019
	Assume that on December 31, 2017 Seller Company received a 3-year, zero-interest bearing note receivable with a face value of $10,000 and recorded a discount of $925 on December 31, 2017. Determine the Carrying Value of the Note Receivable on December 31, 2017.
	Assume that on December 31, 2017 Seller Company received a 3-year, zero-interest bearing note receivable with a face value of $10,000 and recorded a discount of $925 on December 31, 2017. Determine the TOTAL Interest Revenue Seller Company will recognize over the entire 3-year period.

A.	34,553.60
B.	36,907.40
C.	952.59
D.	$925
E.	31,753.20
F.	Not enough information to determine
G.	2,952.59
H.	1,845.37
I.	40,000
J.	9,075
K.	1,727.68
L.	10,925