What amount of interest revenue must be included, Accounting Basics

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What amount of interest revenue must be included

On January 1, 2010, Ball Co. exchanged equipment for a $160,000 zero-interest-bearing note due on January 1, 2013. The prevailing rate of interest for a note of this type at January 1, 2010 was 10%. The present value of $1 at 10% for three periods is 0.75. What amount of interest revenue should be included in Abel's 2011 income statement?

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Accounting Basics: What amount of interest revenue must be included

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Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What amount of interest revenue must be included

Reference No:- TGS076000

Recent Questions Asked Accounting Basics

Q : Determine estimated demand functions

Q : Independent and dependent demand

Q : The likely cause of slade''s death

Q : Changes the united states

Q : What amount of interest revenue must be included

Q : Priority rules steps

Q : Which consistent with the law of supply

Q : Observes and participates in several american scenes

Q : What is the consolidated balance for land

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