Splish sells 3D printer systems. Recently, Splish provided a special promotion of zero-interest financing for 2 years on any new 3D printer system. Assume that Splish sells Lyle Cartright a 3D system, receiving a $4,600 zero-interest-bearing note on January 1, 2017. The cost of the 3D printer system is $3,680. Splish imputes a 6% interest rate on this zero-interest note transaction. Prepare the journal entry to record the sale on January 1, 2017, and compute the total amount of revenue to be recognized in 2017.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Splish sells 3D printer systems. Recently, Splish provided a special promotion of zero-interest financing for 2 years on any new 3D printer ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
What is the mean cost of repairing a starter if starters for four different vehicles cost $316, $443, $249, and $210 respectively? $400.00 $315.50 $304.50 $298.00
Answers (1)
10/10 What role do entrepreneurs play in economics? Entrepreneurs tell consumers what they should want or need. Entrepreneurs create the businesses that produce products and services that meet the wants and needs of consumers.
Answers (1)
Sally Smith incurred expenses of $800 in June which she paid in July. She declared these expenses on her June income statement. By doing this she is following the accounting principle of:
Answers (1)
Janet lives in Centralville, where the tax rate is 3.2%. Her property is assessed at $42,000. What is her tax?
Answers (1)
What actions might a government take to attract foreign companies to do business in its country?
Answers (1)
New Questions in Business
Catherine and Jacob have a written contract to buy and sell "100 cases of widgets." The 100 cases is a typo, so after signing the contract they orally agree to modify the contract to "1,000 cases of widgets.
Answers (2)
Is accounts receivable a material component of the company's total current assets?
Answers (1)
Packaging that provides convenience, product quality, protection, or easy storage offers what kind of benefits to customers?
Answers (1)
Raphael observes that at the current level of interest rates there is an excess supply of bonds, and therefore he anticipates an increase in the price of bonds. Is Raphael correct? (A). Raphael is correct.
Answers (1)
Maria goes to a concert after her mother asked her not to go. The ticket price was $100, and Maria's mom found out and now doesn't trust her. What is the opportunity cost of Maria's choice to go to the concert?
Answers (1)