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On July 1,2024, NDW Company sold equipment to Customs Inc., accepting a $420,000 note receivable...

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Accounting

On July 1,2024, NDW Company sold equipment to Customs Inc., accepting a $420,000 note receivable due on June 30,2029. Interest is paid annually at 8% with the first payment due on June 30,2025. Customs Inc., normally pays 12% for its borrowed funds. NDW Company presents its 2024 financial statements for the period January 1,2024 to December 31,2024.
How much in sales revenue should NDW Company record in 2024 for its sale of equipment to Customs Inc.?

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