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Wigilia Wire, Inc. wrote a contract for a $113,000 sale to the new Fuse Electric Company. Wigilia only anticipates a slightly greater than fifty percent
Wigilia Wire, Inc. wrote a contract for a $113,000 sale to the new Fuse Electric Company. Wigilia only anticipates a slightly greater than fifty percent chance that Fuse Electric will be able to pay the amounts that Wigilia is entitled to receive under the contract. Upon delivery of the wires, assuming no payment has yet been made by Fuse Electric. How much revenue should Wigilia recognize under U.S. GAAP?
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