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Rudd enters into a contract with a customer to sell equipment on 31 December 201. Control of the equipment transfer to the customer on that

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Rudd enters into a contract with a customer to sell equipment on 31 December 201. Control of the equipment transfer to the customer on that date. The price stated in the contract is $1m and is due on 31 December 20X3.Market rates of interest available to this particular customer are 10%. Required: How much is the revenue for the year ended 31 December 201

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