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(Solved): On January 1,2024, The Barre Company purchased merchandise from a supplier. Payment was a nonintere ...




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On January 1,2024, The Barre Company purchased merchandise from a supplier. Payment was a noninterest-bearing note requiring: five annual poyments of on each December 31 beginning on December 31,2024 , and a lump-sum payment of on December 31,2028 A interest rate properly reflects the time value of money in this situation Requited: Calculate the amount at which Barrel should record the note payable and corresponding merchandise purchased on January 1,2024 Note: Round your final answers to nearest whole dollar amount. Use tables, Excel, or a financial calculator. (EV of S1, PV of S1. EVA of S1. PVA of S1. EVAD of S1 and PVAD of S1]


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Computation of the amount that Barrel should be recorded :
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