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Facts: On July 1, 2020, S E K Company sold goods to Grant Company for $900,000 in exchange for a 4-year, zero-interest-bearing note with a face amount of $1,416,163. The goods have an inventory cost on S E K's books of $590,000.
Questions
How much revenue should SEK Company record on July 1, 2020?
How much revenue should it report related to this transaction on December 31, 2020?
multiple choice questions in accounts fundamentals1.the matching rule relates to credit losses by stating that bad debt
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