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On July 1, 2021, Reliable Equipment Ltd. sold a machine to a customer in exchange for a three-year, zero-interest-bearing note with a face amount of

On July 1, 2021, Reliable Equipment Ltd. sold a machine to a customer in exchange for a three-year, zero-interest-bearing note with a face amount of $926,100. The cost of the machine is $600,000 and the fair value is $800,000. How much revenue should Reliable Equipment Ltd. record on July 1, 2021?

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