Reference no: EM132720382
Question: Presented below are three revenue recognition situations.
(a) Groupo sells goods to MTN for $1,075,000, payment due at delivery.
(b) Groupo sells goods on account to Grifols for $776,000, payment due in 30 days.
(c) Groupo sells goods to Magnus for $515,000, payment due in two installments, the first installment payable in 18 months and the second payment due 6 months later. The present value of the future payments is $477,000.
Indicate the transaction price for each of these situations and when revenue will be recognized.
Transaction Price $enter a dollar amount $enter a dollar amount $enter a dollar amount
Choos when revenue will be recognized.
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: Presented below are three revenue recognition situations. Groupo sells goods to MTN for $1,075,000, payment due at delivery.
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