Question
Your business exchanged accounting services, worth $30,000, to Luna Inc. for equipment worth $15,000 at the date of the exchange. How much revenue should your
Your business exchanged accounting services, worth $30,000, to Luna Inc. for equipment worth $15,000 at the date of the exchange. How much revenue should your business report as a result of the transaction?
Group of answer choices
A $45,000
B $0 because no cash was paid.
C $30,000
D $15,000
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
