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The applicable effective interest rate is 7 what amount of

Question - On April 19, 2016, Millipede Machinery sold a tractor to Thomas Hartwood, accepting a note promising payment of $140,000 in five years. The applicable effective interest rate is 7%. (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.)

What amount of sales revenue would Millipede recognize on April 19, 2016, for the Hartwood transaction?

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Accounting Basics: The applicable effective interest rate is 7 what amount of

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