A new phone was sold on an installment basis but the payment was made on an installment basis. As a result, a non-interest-bearing note amounting to 400,000 with an implied rate of 5% was issued. The...

A new phone was sold on an installment basis but the payment was made on an installment basis. As a result, a non-interest-bearing note amounting to 400,000 with an implied rate of 5% was issued. The entire payment should be made for 5 years. The phone was a second-hand model so it seems to be difficult to determine the exact cash price of the item. How will you record the revenue in this case?

How much will be the transaction price in this transaction?