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How much accounts receivable should Black Diamond recognize

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Reference no: EM132679077

On January 1, 2019, Black Diamond Company agreed to sell a diamond to a customer at a special price of $9,000. Payment terms were $1,800 on January 1, 2019, and $1,800 each January 1 from 2020 to 2023. Black Diamond normally charges 10% interest to its customers but did not charge interest on this special sale.

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Problem 1: How much revenue, and how much accounts receivable, should Black Diamond recognize on January 1, 2019? (Use a financial calculator and enter your answers as positive amounts, rounded to the nearest whole dollar.)

Reference no: EM132679077

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