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You own a small manufacturing plant that produces custom sailboats. Sales have been slow so you have introduced a special to sell off your stock
You own a small manufacturing plant that produces custom sailboats. Sales have been slow so you have introduced a special to sell off your stock of sailboats. You will accept a $5,000 down payment on July 1, 2021 and three additional annual payments of $9,000 each starting July 1, 2022. If the imputed rate is 5%, and the risk of default on payments is quite low, how much revenue should you recognize. for each sailboat under the special terms on July 1, 2021? $5,000 $29,509 $30,735 $32,000
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