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What amount of interest revenue should be included

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Question - On January 1, 2019, West Co. exchanged equipment for a $400,000 zero-interest-bearing note due on January 1, 2020. The prevailing rate of interest for a note of this type at January 1, 2019 was 10%. The present value of $1 at 10% for three periods is 0.75. What amount of interest revenue should be included in West's 2019 income statement?

Reference no: EM132824055

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