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Topic - Revenue Recognition Company A is an insurance agent and provides insurance advisory services to Customer B. Company A receives a commission from Insurance
Topic - Revenue Recognition
Company A is an insurance agent and provides insurance advisory services to Customer B. Company A receives a commission from Insurance Company I when Company A places Customer B's insurance policy with Insurance Company I, on 1 April 2021. Company A is required to provide ongoing services to Customer B until 1 April 2022. Additional amounts are charged for these services. All amounts are at market rates. Required: State at which date, if any, revenue will be recognized Step by Step Solution
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