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Pemco Enterprises sells annual memberships to its shooting lodge. The memberships cost $230 each. On January 1, Pemco sold 4,000 membershipsand received cash. How should
Pemco Enterprises sells annual memberships to its shooting lodge. The memberships cost $230 each. On January 1, Pemco sold 4,000 membershipsand received cash. How should Pemco record the receipt of cash on January 1? A. liability of $920,000 B. revenue of $76,667 C. liability of $0 D. revenue of $920,000
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Financial Accounting
Authors: Libby, Short
6th Edition
978-0071284714, 9780077300333, 71284710, 77300335, 978-0073526881
