The sales revenue that Wright Transport will recognize on 1st January, 2021 is $408,823.60.
Here, we are going to calculate the sales revenue that Wright Transport will recognize on 1st January, 2021.
- The Formulae for the Sales revenue is <em>Value of note * Present Value Factor at (8%, 3rd year).</em>
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Sales Revenue = Value of Note * PVF(8%, 3)
Sales Revenue = $515,000 * (1/1.08)^3
Sales Revenue = $515,000 * 0.79383224
Sales Revenue = $408,823.60
Therefore, the sales revenue that Wright Transport will recognize on 1st January, 2021 is $408,823.60.
The missing question <em>"H(FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.): </em><em>Required</em><em>: How much sales revenue would Wright recognize on January 1, 2021, for this transaction?"</em>
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