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5. On October 1,2020, Chocolate Inc. sold 100,000 pounds of chocolate to See's Candy at $4.00 per pound. 50,000 pounds were delivered on December 15,
5. On October 1,2020, Chocolate Inc. sold 100,000 pounds of chocolate to See's Candy at $4.00 per pound. 50,000 pounds were delivered on December 15, 2020, and the remaining 50,000 pounds were delivered on January 15, 2021. Payment terms were: 50% due on October 1, 2020, 25% due on the first delivery, and the remaining 25% due on second delivery. What amount of revenue should Chocolate Inc. recognize from this sale during 2020
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