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Assume Teal Mountain Corp., an equipment distributor, sells a piece of machinery with a list price of $740000 to Sandhill Inc. Sandhill will pay $790000

Assume Teal Mountain Corp., an equipment distributor, sells a piece of machinery with a list price of $740000 to Sandhill Inc. Sandhill will pay $790000 in one year. Teal Mountain Corp. normally sells this type of equipment for 95% of list price. How much should be recorded as revenue?

(a) $750500 (b) $790000 (c) $740000 (d) $703000

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