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Presented below are three revenue recognition situations. a. Crane sells goods to ETN for $1,022,000, payment due at delivery. b. Crane sells goods on account
Presented below are three revenue recognition situations. a. Crane sells goods to ETN for $1,022,000, payment due at delivery. b. Crane sells goods on account to Pharoah for $861,000, payment due in 30 days. c. Crane sells goods to Ivanhoe for $457,000, payment due in two installments, the first installment payable in 18 months and the second payment due 6 months later. The present value of the future payments is $424,600
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