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Presented below are three revenue recognition situations. Instructions Indicate how each of these transactions is reported. (When is revenue recognized, how, etc) (a) Gee sells
Presented below are three revenue recognition situations. Instructions Indicate how each of these transactions is reported. (When is revenue recognized, how, etc) (a) Gee sells goods to Pluto for S950,000, payment due at delivery (b) Gee sells goods on account to Goofy for S750,000, payment due in 45 days. (c) Gee sells goods to Donald for $400,000, payment due in four installments: the first installment payable in 6 months and subsequent payment due every six
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