On November 1, 2010, Salem Corporation sold land priced at $900,000 in exchange for a 6%, six-month note receivable. As a result of this sale of land, what will Salem's Balance Sheet on December 31, 2010 include

Note receivables of $900,000 & Interest receivable of $9,000

Explanation:

As a result of this sale of land, what will Salem's Balance Sheet on December 31, 2010 include?

Interest receivable = $900,000*6%*2/12

Interest receivable = $900,000 * 0.01

Interest receivable = $9,000

So, Salem's Balance Sheet on December 31, 2010 will include Note receivables of $900,000 and Interest receivable of $9,000.

Percentage of savings off=45%

Explanation:

Savings=discount×Original item price

First save=(25/100)×179.99=$44.9975

Additional save=(20/100)×179.99=$35.998

Total savings=(44.9975+35.998)=$80.9955

Percentage of savings=(Total saving/Original price)×100

(80.9955/179.99)×100=45%