On january 2 2014 adani inc sells goods to geo company in

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On January 2, 2014, Adani Inc. sells goods to Geo Company in exchange for a zero-interest-bearing note with face value of $11,000, with payment due in 12 months. The fair value of the goods at the date of sale is $10,000 (cost $6,000). Prepare the journal entry to record this transaction on January 2, 2014. How much total revenue should be recognized in 2014?

Reference no: EM13589111

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