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GreyCo collected $17,200 of customer deposits on cans and bottles. As of the end of the accounting period, GreyCo has redeemed 60% of the deposits,

GreyCo collected $17,200 of customer deposits on cans and bottles. As of the end of the accounting period, GreyCo has redeemed 60% of the deposits, and concludes that 16% of the deposits have been forfeited. GreyCo should recognize revenue of $_____________:

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