What amount of interest revenue should be included, Accounting Basics

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What amount of interest revenue should 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 should be included

Reference No:- TGS075920

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Recent Questions Asked Accounting Basics

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Q : What amount of interest revenue should be included

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What amount of interest revenue should be included

Reference No:- TGS075920

Recent Questions Asked Accounting Basics

Q : Recommend in the fight against obesity

Q : What is rate of gross profit

Q : Use of the gpo system

Q : Religious groups and include it at the end of the matrix

Q : What amount of interest revenue should be included

Q : How much did the startup division make

Q : Explain is measure stabilizing or destabilizing

Q : Calculate harolds annual rate of return

Q : New program for executives

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