Andre Company sold a building to Brua Company in exchange for a 5-year, zero-interest bearing note receivable with a fac

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Andre Company Sold A Building To Brua Company In Exchange For A 5 Year Zero Interest Bearing Note Receivable With A Fac 1 (65.29 KiB) Viewed 44 times

Andre Company sold a building to Brua Company in exchange for a 5-year, zero-interest bearing note receivable with a face amount of $1,400,000. The book value of the building at the time of sale was $900,000 [historical cost $1,100,000 and accumulated depreciation $200,000]. The market rate at the time of the sale was 6%. The entry to record the sale of the building by Andre Company is? Note Receivable Accumulated Depreciation Discount on Note Receivable Building Gain on Sale Note Receivable Discount on Note Receivable Building Note Receivable Accumulated Depreciation Loss on Sale Discount on Note Receivable Building O Note Receivable Accumulated Depreciation Gain on Sale Discount on Note Receivable Building None of the above 1,400,000 200,000 1,400,000 1,400,000 200,000 78,016 1,400,000 200,000 353,839 1,100,000 146,161 500,000 900,000 578,016 1,100,000 200,000 300,000 1,100,000