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Describe when transactions should be recognized as sales

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Camping Outfitters Inc. (COI), sends camping outfits to monthly subscribers each month. If the customer does NOT want the outfit in any month, they can send it back before the last day of that month free of charge in exchange for a store credit. COI prepares its financial statements following ASPE.

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Problem 1: Describe when these transactions should be recognized as sales under the earnings approach.

Reference no: EM132940059

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