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Question - In 2021, Ramon Comics Corp. sold a comic strip to Final Fantasy, Inc. and will receive royalties of 20% of future revenues associated with the comic strip. At December 31, 2022, Ramon reported royalties receivable of P75,000 from Final Fantasy. During 2023, Ramon received royalty payments of P200,000. Final Fantasy reported revenues of P1,500,000 in 2023 from the comic strip. In its 2023 income statement, what amount should Ramon report as royalty revenue?
a. P300,000
b. P175,000
c. P200,000
d. P125,000
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Current Attempt in Progress - SHOW tabular analysis of the above transactions. Include margin explanations for any changes in Retained Earnings
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1 briscoe company sells it product for 60 per unit. during 2011 it produced 60000 units and sold 50000 units there are
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