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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. Metlock sells goods
Presented below are four revenue recognition situations. Indicate the transaction price for each of these transactions and when revenue will be recognized. Metlock sells goods to MTN for $790,000, payment due at delivery, Metlock would recognize revenue of $ 790000 at delivery e Textbook and Media Metlock sells goods on account to Ivanhoe for $630,000 payment due in 30 days. The terms are fo.b. destination. Metlock would recognize revenue of $. 630000 at Metlock sells goods to Sarasota for $520,000, 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. Metlock would recognize revenue of $ at revenue of $ will be earned over the next years using the effective interest me e Textbook and Media Metlock 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 Metlock would record the sales revenue of S at
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