Solved: If korral charges interest of 24 per year compounded, Accounting Basics

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If korral charges interest of 24 per year compounded

Question - Korral Used Kars sold a 1973 Ford Pinto to Fred Gullip. Fred gave $200 to Korral as a down payment and agreed to pay $90 per month for three years. If Korral charges interest of 24% per year, compounded monthly, what should Korral record as sales revenue on the Pinto?

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Accounting Basics: If korral charges interest of 24 per year compounded

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