On January 1,2016,Glanville Company sold goods to Otter Corporation.Otter signed an installment note requiring payment of $15,000 annually for six years.The first payment was made on January 1,2016.The prevailing rate of interest for this type of note at date of issuance was 8%.
Glanville should record sales revenue in January 2016 of:

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The Answer of On January 1,2016,Glanville Company sold goods to Otter Corporation.Otter signed an installment note requiring payment of $15,000 annually for six years.The first payment was made on January 1,2016.The prevailing rate of interest for this type of note at date of issuance was 8%.
Glanville should record sales revenue in January 2016 of:

On January 1,2016,Glanville Company Sold Goods to Otter Corporation