Presented below are three revenue recognition situations.

(a) Groupo sells goods to MTN for $1,075,000, payment due at delivery.

(b) Groupo sells goods on account to Grifols for $776,000, payment due in 30 days.

(c) Groupo sells goods to Magnus for $515,000, 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 $477,000.

Indicate the transaction price for each of these situations and when revenue will be recognized.

(a) (b) (c)

Transaction Price $enter a dollar amount $enter a dollar amount $enter a dollar amount

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