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How much deferred revenue would Hodge recognize

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Question - On January 1, 2021, Hodge Beanery received $8,000 from the Kennedy Company in exchange for a coffee roaster that it will deliver to Kennedy on December 31, 2021. Assuming that Hodge views the time value of money to be a significant component of this transaction, and that a 9% interest rate is applicable. How much deferred revenue would Hodge recognize on January 1, 2021?

Reference no: EM132489268

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