Notes Receivable

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8 Terms

1
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Sales Revenue

Imemediate cash + present value of note

2
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Initial discount

Face value - initial present value

3
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cash interest

face value x stated rate x time

4
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interest revenue

beginning carrying value x market rate x time

5
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interest receivable

face value x stated rate x unpaid time

6
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discount amortization

interest revenue - cash interest

7
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carrying value

previous carrying value + discount amortization - principal repaid

8
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market interest rate

work backward using the PV factors