Question

Presented below are three revenue recognition situations. (a) Groupo sells goods to MTN for $1,006,000, payment...

Presented below are three revenue recognition situations.

(a) Groupo sells goods to MTN for $1,006,000, payment due at delivery.
(b) Groupo sells goods on account to Grifols for $740,000, payment due in 30 days.
(c) Groupo sells goods to Magnus for $536,000, payment due in two installments, the first installment payable in 18 months and the second payment due 6 months later. The present value of the future payments is $502,200.


Indicate the transaction price for each of these situations and when revenue will be recognized.

(a) (b) (c)

Transaction Price

  

Revenue will be recognized

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Answer #1

solution - a) b) CC) Transaction price 1006000 740000 509 200 Revenue will be recognised At delivery At the point of sale At

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Answer #2
I don't know pls tell me I want the answer on this question
source: Accounting
answered by: anonymous
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