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On January 1, 2022 Hideki Matsuyama provides services in exchange for a $10,000 zero-interest bearing note due in 4 years. The effective interest rate for a note of this type is 15 percent. How much revenue does Hideki recognize on January 1, 2022?

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francocanacari

Hideki recognizes a $17,490.06 revenue.

Revenue

Given that on January 1, 2022 Hideki Matsuyama provides services in exchange for a $10,000 zero-interest bearing note due in 4 years, and the effective interest rate for a note of this type is 15 percent, to determine how much revenue does Hideki recognize on January 1, 2022 the following calculation must be made:

  • 10000 x 1.15^4 = X
  • 10000 x 1.749 = x
  • 17490.06 = X

Therefore, Hideki recognizes a $17,490.06 revenue.

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