What is the answer x G calculatorGoogle Searc e httpsnewcon

What is the answer?

x G calculator-Google Searc × e https://newconnect.mheducation.com/flow/connect.html 6 0 Saved Help Save & Exit Submit Lincoln Company purchased merchandise from Grandville Corp. on September 30, 2018. Payment was made in the form of a noninterest-bearing note requiring Lincoln to make six annual payments of $8,000 on each September 30, beginning on September 30, 2021. (EV of $1. PV of S1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the amount at which Lincoln should record the note payable and corresponding purchases on September 30, 2018, assuming that an interest rate of 12% properly reflects the time value of money in this situation. Amount recorded es

Solution

Amount recorded = 8000*PVIFA(12,6)*PVIF(12,3) = 8000*4.1141*0.71178 = $       23,427