Business, 14.04.2020 17:42 ricardodeleon152

Sold equipment to Hemingway Co. for a 2-year, $80,000, zero-interest-bearing note. The prevailing rate of interest for a note of this type at January 1, 2020 was 10%. The present value of $1 at 10% for two periods is 0.83. What amount of interest revenue should be included in Kohl's 2021 income statement?

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Sold equipment to Hemingway Co. for a 2-year, $80,000, zero-interest-bearing note. The prevailing ra...