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What amount should be recorded on the balance sheet

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Reference no: EM133327455

Case: Brad had his own business in manufacturing and was extremely successful. He sold his business on February 1st of this year to a third party for $4,000,000 using an installment note. The terms of the agreement are: 25% down payment, 8-year, 4% note that will start paying monthly installment payments starting on March 1, 2021.

Question: What amount should be recorded on the balance sheet ending 12/31/21

Reference no: EM133327455

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