Business, 08.10.2019 03:00 rconyers00
On january 1, 2014, west co. exchanged equipment for a $400,000 zero-interest-bearing note due on january 1, 2017. the prevailing rate of interest for a note of this type at january 1, 2014 was 10%. the present value of $1 at 10% for three periods is 0.75. what amount of interest revenue should be included in west's 2015 income statement? a. $0b. $40,000c. $33,000d. $30,000
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On january 1, 2014, west co. exchanged equipment for a $400,000 zero-interest-bearing note due on ja...
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