On January 1, 2021 Sukhi's Cycles Inc. sells a motorcycle for $24,000. Terms offered are $1,000 per month first due February 1, 2021. The market interest rate for transactions of this type is 0.25% per month. What is the amount of revenue that Sukhi should record at time of sale?

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The Answer of On January 1, 2021 Sukhi's Cycles Inc. sells a motorcycle for $24,000. Terms offered are $1,000 per month first due February 1, 2021. The market interest rate for transactions of this type is 0.25% per month. What is the amount of revenue that Sukhi should record at time of sale?