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Presented below are four revenue recognition situations. Indicate the transaction price for each of these transactions and when revenue will be recognized. Matlock sells goods
Presented below are four revenue recognition situations. Indicate the transaction price for each of these transactions and when revenue will be recognized. Matlock sells goods to MTN for $950,000, payment due at delivery. Matlock would recognize revenue of $ eTextbook and Media 950000 at delivery Matlock sells goods on account to Ivanhoe for $970,000, payment due in 30 days. The terms are fo.b. destination. Matlock would recognize revenue of $ eTextbook and Media 970000 at date of contract Matlock sells goods to Bridgeport for $490,000, payment due in two instalments: the first instalment payable in 18 months, and the second payment due 6 months later. The present value of the future payments is $475,000. Matlock would recognize revenue of $ revenue of $ eTextbook and Media 475000 at the point of sale will be earned over the next years using the effecti Matlock sells merchandise with a retail price of $40,000 in exchange for common shares of its customer. The customer is a private company and issuance of common shares is rare. Matlock would record the sales revenue of $ at
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