On Dec 25th, 2019, ABC sold $500,000 goods to the XYZ Company term (3/10/N30). Based on this,

1-revenues to be recognized in 2019 is, Select one:

a. $15,000

b. $485,000

c. $500,000

d. $0

2-The amount of revenues to be recognized in 2019 is based on, Select one:

a. The expected value approach

b. The actual value approach

c. The most likely value approach

d. The gross sales approach