5. Note Receivable - Related Party	3 Months Ended
Mar. 31, 2020
Note Receivable - Related Party
Note Receivable - Related party	NOTE 5. NOTE RECEIVABLE – RELATED PARTY On June 1, 2019, the Company sold two racecars to a related party for a $50,000 note receivable, resulting in a gain of $20,000. The interest rate on the note is 1% per annum and payments of $1,000 per month began August 2019 and increase to $4,778 per month in March 2020, with a final payment of $525 in December 2020. The balance of the note was $42,360 as of March 31, 2020 and December 31, 2019, respectively.

5. Note Receivable - Related Party

3 Months Ended

Mar. 31, 2020

NOTE 5. NOTE RECEIVABLE – RELATED PARTY

On June 1, 2019, the Company sold two racecars to a related party for a $50,000 note receivable, resulting in a gain of $20,000. The interest rate on the note is 1% per annum and payments of $1,000 per month began August 2019 and increase to $4,778 per month in March 2020, with a final payment of $525 in December 2020. The balance of the note was $42,360 as of March 31, 2020 and December 31, 2019, respectively.

RC-1, Inc. 10-Q