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What amount of sales revenue would Millipede recognize

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Question - On April 19, 2021, Millipede Machinery sold a tractor to Thomas Hartwood, accepting a note promising payment of $120,000 in five years. The applicable effective interest rate is 7%.

Required - What amount of sales revenue would Millipede recognize on April 19, 2021, for the Hartwood transaction?

Reference no: EM132719664

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