Business, 12.03.2020 21:20, ilovesummertime207

On January 1, 2020, Hat Trick Manufacturing exchanged some equipment for a $750,000 zero-interest-bearing note due on January 1, 2023. 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 three periods is 0.75. Hat Trick Manufacturing included __ as interest revenue on the 2021 income statement

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On January 1, 2020, Hat Trick Manufacturing exchanged some equipment for a $750,000 zero-interest-be...