How much revenue does Hideki recognize on January 1, 2022?
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 21CE
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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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