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What marx should record sales revenue in january of

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Problem 1: On January 1, 2020, Marx Co. sold goods to Cox Company. Cox signed a noninterest-bearing note requiring payment of P30,000 annually for seven years. The first payment was made on January 1, 2020. The prevailing rate of interest for this type of note at date of issuance was 10%. Marx should record sales revenue in January 2020 of (rounded)

Reference no: EM132697499

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