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Business, 08.07.2019 19:10 bellam302

On january 2, 2018, jensen corporation sells equipment it manufactured to lewisburg fabricators in exchange for an $80,000 note due in five years. the note bears no stated interest rate, but requires the entire $80,000 to be repaid at the end of five years. jensen recently sold the same equipment to another company for $54,447. when lewisburg fabricators sought bank financing for this purchase the company was offered the funds at 8%, but decided to let jensen hold the note. what amount will jensen recognize as interest income during 2018?

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