Billy's Balloon Factory (BBF) enters into a sales contract with a new customer involving a...
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Accounting
Billy's Balloon Factory (BBF) enters into a sales contract with a new customer involving a significant financing component. Delivery occurs at the date of the contract inception. However, payment of the contract price of $460,000 will not occur until three years later. The interest rate charged in similar arrangements in the industry is 10%. What amount should BBF record as the sale in the journal
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