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What is the total amount of sales revenue recognized

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Question - Ern Inc., a car dealer, sells five vehicles on January 1, 2020, to a customer for $100,000. The cost of the vehicles sold was $ 80,000. It agrees to repurchase the five vehicles from the customer on December 31, 2021, for a price of $110,250. What is the total amount of sales revenue recognized for the transaction in 2020?

Reference no: EM133122884

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