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What amount of revenue should be recorded of the exchange

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On january 1, 2020 , drew foster co exchanged equipment for a $300,000 zero interest bearing note due on january 1, 2023. the prevaling rate of interest for a note of this type at jaanuary 1, 2020 was 10%. Note: Use the ST line interest method to amortize interest.
calculate

Problem a) What amount of revenue should be recorded on the day of the exchange?

Problem b) How much revenue is recorded in total for 2020?

Problem c) what is the interest revenue amount in 2021

Reference no: EM132676690

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