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How much is the carrying amount of the receivable

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Question - On January 1, 20x1, ABC Co. sold machinery with historical cost of 3,000,000 and accumulated depreciation of 900,000 in exchange for a 3-year, 2,100,000 noninterest-bearing note receivable due in equal semi-annual payments every July 1 and December 31 starting on July 1, 20x1. The prevailing rate of interest for this type of note is 10%. How much is the carrying amount of the receivable on December 31, 20x1?

Reference no: EM132886786

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