Assuming delivery occurs on time

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1.Patterson, Inc. receives a $10,000 payment two years in advance of delivering a completed novel. A five percent interest rate applies. How much revenue would Patterson recognize associated with delivery of the novel, assuming delivery occurs on time?

Reference no: EM13883027

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Assuming delivery occurs on time : 1.Patterson, Inc. receives a $10,000 payment two years in advance of delivering a completed novel.
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