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How might RETENTION PAYMENTS come into play?There could be times when a client wants to ensure the services of an accountant, lawyer, or other professional
- How might RETENTION PAYMENTS come into play?There could be times when a client wants to ensure the services of an accountant, lawyer, or other professional by paying a retention payment.Therefore, how are those payments factored in the revenue recognition?
- Revenue Recognition - Assume the yearly membership fee is $180 and assume a customer gets a membership on 7/1/18.What would be the debit/credit entry on 7/1/18 and subsequent monthly adjusting entries in August and September? What would happen if the customer asks for a refund on 12/1/18?
- What are some qualitative and quantitative disclosures are required related to revenue recognition?
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfiel
17th edition
1119503663, 1119571480, 1-119-50368-2, 111950368X, 978-1119503668
