Splish sells 3D printer systems. Recently, Splish provided a special promotion of zero-interest financing for 2 years on any new 3D printer system. Assume that Splish sells Lyle Cartright a 3D system, receiving a $4,600 zero-interest-bearing note on January 1, 2017. The cost of the 3D printer system is $3,680. Splish imputes a 6% interest rate on this zero-interest note transaction. Prepare the journal entry to record the sale on January 1, 2017, and compute the total amount of revenue to be recognized in 2017.
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