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How much revenue should shark bait recognize

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Question - On June 3, X1, Shark Bait Inc sells fish food to Nemo Inc. for $310,000. Shark Bait ships the fish food on June 12, X1. Credit terms require Nemo to pay Shark Bait within four months. Shark Bait accepts any returns of unopened fish food up to 6 months after the sale. Nemo is allowed to exchange any unopened fish food within 10 months. On June 3, Shark Bait estimates six-percent of the fish food will be returned and estimates two-percent will be exchanged. How much revenue should Shark Bait recognize for the sale that occurred on June 3rd?

 A. $291,400

 B. $285,400

 C. $0

 D. $310,000

Reference no: EM132959270

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