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On January 1, Company A received $14,200 from Company B in exchange for a product...

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Accounting

On January 1, Company A received $14,200 from Company B in exchange for a product that it will deliver to Company B later that year on December 31. Assume that Company A views the time value of money to be a significant component of this transaction and that a 9% interest rate is applicable.
How much deferred revenue would Company A recognize on January 1 when the $14,200 is received?
Note: Use tables, Excel, or a financial calculator. Round your final answer to the nearest whole dollar. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)

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