On January 1, 2013, Glanville Company sold goods to Otter Corporation. Otter signed a noninterest-bearing note requiring payment of $15,000 annually for six years. The first payment was made on January 1, 2013. The prevailing rate of interest for this type of note at date of issuance was 8%. Glanville should record sales revenue in January 2013 of:

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The Answer of On January 1, 2013, Glanville Company sold goods to Otter Corporation. Otter signed a noninterest-bearing note requiring payment of $15,000 annually for six years. The first payment was made on January 1, 2013. The prevailing rate of interest for this type of note at date of issuance was 8%. Glanville should record sales revenue in January 2013 of:

On January 1, 2013, Glanville Company Sold Goods to Otter