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v raded Homework Saved Help Save & Exit Submit Check my work The Field Detergent Company sold merchandise to the Abel Company on June 30,
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raded Homework Saved Help Save & Exit Submit Check my work The Field Detergent Company sold merchandise to the Abel Company on June 30, 2021. Payment was made in the form of a noninterest-bearing note requiring Abel to pay $85,000 on June 30, 2023. Assume that a 10% interest rate properly reflects the time value of money in this situation. (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the amount at which Field should record the note receivable and corresponding sales rever on June 30, 2021. (Round your final answers to nearest whole dollar amount.) venue Table or calculator function: Future value: n PV Note/Revenue: Check my work Don James purchased a new automobile for $11,000. Don made a cash down payment of $2,750 and agreed to pay the remaining balance in 30 monthly installments, beginning one month from the date of purchase. Financing is available at a 24% annual interest rate. (FV of $1. PV of $1, FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the amount of the required monthly payment. (Do not round intermediate calculations. Round your final answer to nearest whole dollar amount.) Monthly payment Step by Step Solution
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