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Multiple Choice Question 114 Assume Concord Corporation, an equipment distributor, sells a piece of machinery with a list price of $875000 to Ivanhoe Company Ivanhoe

Multiple Choice Question 114 Assume Concord Corporation, an equipment distributor, sells a piece of machinery with a list price of $875000 to Ivanhoe Company Ivanhoe Company will pay $995000 in one year. Concord Corporation normally sells this type of equipment for 80% of list price. How much should be recorded as revenue?

$875000. $995000. $700000. $796000.

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