What Is the Present Value (PV)of $85,000 Received 15 Years

question 71

Multiple Choice

What is the present value (PV) of $85,000 received 15 years from now,assuming the interest rate is 3% per year?

• A)$54,558
• B)$85,000
• C)$82,524
• D)$132,427
• E)$5,502

Identify and correct errors related to adjusting entries for accrued expenses and revenues.

Understand the implications of not making adjusting entries on financial statements.

Calculate the correct amount of reported revenue for transactions involving unearned revenue.

Determine the book value of depreciable assets after accounting for depreciation expense.

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