Transcribed Image Text: Presented below are two independent revenue arrangements for Pharoah Company. Respond to the requirements related to each revenue arrangement. Click here to

Transcribed Image Text: Presented below are two independent revenue arrangements for Pharoah Company.
Respond to the requirements related to each revenue arrangement.
Click here to view factor table.
Pharoah sells 3D printer systems. Recently, Pharoah provided a special promotion of zero-interest financing for 2 years on any
new 3D printer system. Assume that Pharoah sells University co-op a 3D system, receiving a $5,100 zero-interest-bearing note
on March 1, 2020. The cost of the 3D printer system is $3,060. Pharoah imputes a 8% interest rate on this zero-interest note
transaction. Prepare the journal entry to record the sale on March 1, 2020. (Credit account titles are automatically indented when
the amount is entered. Do not indent manually. If no entry is required, select “No entry” for the account titles and enter O for the
amounts. Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places, eg.
58,971.)
Account Titles and Explanation
Debit
Credit
(To record sales)
(To record cost of goods sold)
Compute the total amount of revenue to be recognized in 2020. (Round answer to O decimal places, eg. 58,971.)
Revenue to be recognized in 2020
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