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We discussed several complicating situations in applying the revenue recognition principal. Some of these situations included 1) sales with high rates of return, 2)

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We discussed several complicating situations in applying the revenue recognition principal. Some of these situations included 1) sales with high rates of return, 2) repurchase agreements 3) principal-agent relationships and 4) bill and hold. Describe each of these situations, including what the issue is and when it is appropriate to recognize revenue.

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