Inc. had the following long-term receivable account balances at december 31, 2019. note receivable from sale of division $2,100,000 note receivable from officer 477,800 transactions during 2020 and other information relating to sunland’s long-term receivables were as follows. 1. the $2,100,000 note receivable is dated may 1, 2019, bears interest at 10%, and represents the balance of the consideration received from the sale of sunland’s electronics division to new york company. principal payments of $700,000 plus appropriate interest are due on may 1, 2020, 2021, and 2022. the first principal and interest payment was made on may 1, 2020. collection of the note installments is reasonably assured.
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Inc. had the following long-term receivable account balances at december 31, 2019. note receivable f...
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