Presented below are three revenue recognition situations.

(a)Groupo sells goods to MTN for $930,000, payment due at delivery.

(b)Groupo sells goods on account to Grifols for $816,000, payment due in 30 days.

(c)Groupo sells goods to Magnus for $529,000, 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 $491,600.

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