Compute the carrying value of the note receivable

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JKL performed services for a customer in exchange for a $16,000, 10-year, 8% note receivable on January 1, 2015. Interest will be paid semiannually, with the first payment at the end of the first six months. The customer's normal borrowing rate for similar loans is 5%.

Question 1: Determine the carrying value of the note receivable on December 31, 2020 balance sheet.

18,100

19,741

None of the other answer choices is correct.

17,721

17,322

17,702

Reference no: EM132508873

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