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On December 31, 20x1, Mr. Eugene H. Krabs Co. enters into a contract with Sheldon J. Plankton Co. to transfer a license for a fixed fee of P100,000 payable as follows:
Problem 1: Using this information, how much total revenue will Krabs recognize in 20x2?
a. 0b. 27,477c. 80,747d. 20,187
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