Indicate the transaction price for this situation and when revenue will be recognized Groupo sells goods on account to Grifols for $800,000 payment due in 30 days O $1,000,000 recognized upon delivery of goods S800,000 recoginzed upon delivery of goods S800,000 recognized in 30 days $800 000 recognized at Point of Sale

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Indicate the transaction price for this situation and when revenue will be recognized
Groupo sells goods on account to Grifols for $800,000 payment due in 30 days
O $1,000,000 recognized upon delivery of goods
O s800,000 recoginzed upon delivery of goods
O $800.000 recognized in
O $800.000 recognized at Point of Sale
days
Transcribed Image Text:Indicate the transaction price for this situation and when revenue will be recognized Groupo sells goods on account to Grifols for $800,000 payment due in 30 days O $1,000,000 recognized upon delivery of goods O s800,000 recoginzed upon delivery of goods O $800.000 recognized in O $800.000 recognized at Point of Sale days
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