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The entry is
debit credit
cash 16000
loss on sale of asset 3000
asset 19000
(Being asset sold for cash)
required 2
required 3
payment PV of $ 1 PV n i= 3 % since componded quarterly
first payment 5300 0.88849 4709 4
second payment 5300 0.78941 4184 8
third payment 5300 0.70138 3717 12
fourth payment 5300 0.62317 3303 16
fifth payment 5300 0.55368 2935 20
total 18848
nded quarterly