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Assume Bulgaria Corp., an equipment distributor, sells a piece of machinery with a list price of $865,000 to Ocean Inc. Ocean Inc. will pay $915,000

Assume Bulgaria Corp., an equipment distributor, sells a piece of machinery with a list price of $865,000 to Ocean Inc. Ocean Inc. will pay $915,000 in one year. Bulgaria Corp. normally sells this type of equipment for 85% of list price. How much should be recorded as revenue?

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