Question
On January 1, 2021, Hodge Beanery received $14,600 from the Kennedy Company in exchange for a coffee roaster that it will deliver to Kennedy on
On January 1, 2021, Hodge Beanery received $14,600 from the Kennedy Company in exchange for a coffee roaster that it will deliver to Kennedy on December 31, 2021. Assuming that Hodge views the time value of money to be a significant component of this transaction, and that a 8% interest rate is applicable. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
How much deferred revenue would Hodge recognize on January 1, 2021?
deffred revenue?
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
