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Presented belaw are three revenue recognition situations. a. Crane sells goods to PTN for $1,075,000, payment due at delivery b. Crane sells goods an account
Presented belaw are three revenue recognition situations. a. Crane sells goods to PTN for $1,075,000, payment due at delivery b. Crane sells goods an account to Pharoah for $776,000, payment due in 30 days. c. Crane sells goads to lvanhoe for $515,000, payment due in two installments, the first installment payable in 18 manths and the second paryment due 6 manths later. The present value of the future payments is $477,000. Indicate the transaction price for each of these situations and when revenue will be recognized
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