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What amount should wonder record as a note receivable

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Reference no: EM132737697

Problem 1: Wonder Company made a loan to Terrific Ltd. on March 1, 2020, with the agreement that Terrific would pay Wonder $7,200 each year for nine years. Market interest rates for a similar type of loan is 4%. What amount should Wonder record as a note receivable on its statement of financial position on March 1, 2020, rounded to the nearest dollar?

Reference no: EM132737697

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