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What amount should chang report as note receivable

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Problem 1: On December 30, 20x4, Chang Co. sold a machine to Door Co. in exchange for a noninterest bearing note requiring ten annual payments of ?10,000. Door made the first payment on December 30, 20x4. The market interest rate for similar notes at date of issuance was 8%. In its December 31, 20x4, balance sheet, what amount should Chang report as note receivable?

a. 45,000

b. 46,000

c. 62,500

d. 67,100

Reference no: EM132836609

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