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On June 30,2022 Bouvier Inc. sold merchandise to a customer and accepted a ...

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Accounting

On June 30,2022 Bouvier Inc. sold merchandise to a customer and accepted a
noninterest-bearing note in exchange. The note requires payment of $30,000 on March 21,
The fair value of merchandise exchanged is $28,200. Bouvier views the financing
component of this contract as significant. The Sales Revenue Bouvier would recognize from
this transaction is
A. $30,000
B. $31,800
C. $28,200
D. $-0-
Refer to question 21 above. During 2022 Bouvier should report Interest Revenue in the
amount of
A. $-0-
B. $1,200
C. $1,800
D. $600
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