Presented below are three revenue recognition situations.

(a)		Groupo sells goods to MTN for $997,000, payment due at delivery.
(b)		Groupo sells goods on account to Grifols for $761,000, payment due in 30 days.
(c)		Groupo sells goods to Magnus for $470,000, 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 $437,000.

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

		(a)		(b)		(c)
Transaction Price		$		$		$
Revenue will be recognized		At the point of saleAt delivery		At the point of saleAt the time of payment