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I need the journal entries for this scenario. Assume AuctionCo.com never takes control of this used bicycle before the sale. Instead, the bicycle is shipped
I need the journal entries for this scenario.
Assume AuctionCo.com never takes control of this used bicycle before the sale. Instead, the bicycle is shipped directly to the customer by the original bicycle owner, and then AuctionCo.com pays $200 to the supplier. Under this assumption, how much revenue would AuctionCo.com recognize at the sale to the customer?
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