Business, 10.04.2020 22:49, ronaldotheexplorer12

On July 1, 2020, Smith sold equipment to Landing Inc. in exchange for a zero-interest bearing note with a face value of $110,000, with payment due in 12 months. The fair value of the equipment on the date of sale was $100,000. The amount of revenue to be recognized on this transaction in 2020 is:

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On July 1, 2020, Smith sold equipment to Landing Inc. in exchange for a zero-interest bearing note w...