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ACCT 382 - Week 6 - Chapter 6 Homework - Question 4

ACCT 382 - Week 6 - Chapter 6 Homework - Question 4
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ACCT 382 - Week 6 - Chapter 6 Homework - Question 4

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Question 4

The Field Detergent Company sold merchandise to the Abel Company on June 30, 2013. Payment was made in the form of a noninterest-bearing note requiring Abel to pay $85,000 on June 30, 2015. Assume that a 10% interest rate properly reflects the time value of money in this situation. (FV of $1PV of $1FVA of $1PVA of $1FVAD of $1 and PVAD of $1(Use appropriate factor(s) from the tables provided.)