[Solved] On January 1,2016,Glanville Company Sold Goods to Otter Corporation

Question 64
Multiple Choice

On January 1,2016,Glanville Company sold goods to Otter Corporation.Otter signed an installment note requiring payment of $15,000 annually for six years.The first payment was made on January 1,2016.The prevailing rate of interest for this type of note at date of issuance was 8%.
Glanville should record sales revenue in January 2016 of:

A)$90,000.
B)$69,343.
C)$74,891.
D)None of these answer choices is correct.

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