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I need to figure out the journal entries to the Alternative 1. ASAP Special issues for Step 3: Determine the Transaction Price (Illustration continued) Debit
I need to figure out the journal entries to the Alternative 1. ASAP
Special issues for Step 3: Determine the Transaction Price (Illustration continued) Debit Credit Journal Entry at inception 300,000 Cash 300,000 Deferred revenue Alternative 1: Expected Value Possible Amounts Probabilities Expected Amounts $360,000 x 75% $480,000 75,000 x 25% $300,000 $435,000 Expected value of contract price at inceptionStep by Step Solution
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