Jones Delivery Services bought a truck by paying $84,000 cash down and signing a $248,000 non-interest-bearing note due in five years for the balance. Current interest rates were 8%. Actuarial information for five periods at 8% follows: Required:
Compute the amount that should be charged to the asset account.

Question

Jones Delivery Services bought a truck by paying $84,000 cash down and signing a $248,000 non-interest-bearing note due in five years for the balance. Current interest rates were 8%. Actuarial information for five periods at 8% follows:  Required:
Compute the amount that should be charged to the asset account.

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The Answer of Jones Delivery Services bought a truck by paying $84,000 cash down and signing a $248,000 non-interest-bearing note due in five years for the balance. Current interest rates were 8%. Actuarial information for five periods at 8% follows:  Required:
Compute the amount that should be charged to the asset account.

Jones Delivery Services Bought a Truck by Paying $84,000 Cash