Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Tanguy Ltd. entered into a contract to sell computer workstation desks to Chirico Inc. The total contact pes $50,000, and includes installation services by
Tanguy Ltd. entered into a contract to sell computer workstation desks to Chirico Inc. The total contact pes $50,000, and includes installation services by Tanguy. The desks would normally sell $4,000 and Tangy wit normally charge $4,000 for the installation services. The contract requires Tanguy to deliver the tune by Oce 15, 2019, and complete the installation by October 28, 2019 Chinco agrees to pay $40,000 upon detery of the furniture and $10,000 upon completion of the installation. All terms of the contract were complied with by both companies. How much revenue should Tanguy Ltd. report on October 15, 2019? Select one: Oa. $40,000 Ob. $46,154 acer
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started