June 30, 20X1 Titan Corp. licensed an archive financial database to Smart Co. for the next five years. Smart is to pay Titan $10,000 at the beginning of each year. Titan and Smart has an incremental borrowing annual interest rates of 5% and 6% respectively. Determine the amount of revenue to be recognized by Titan in 20X1? $45,460 $5,000 $50,000
June 30, 20X1 Titan Corp. licensed an archive financial database to Smart Co. for the next five years. Smart is to pay Titan $10,000 at the beginning of each year. Titan and Smart has an incremental borrowing annual interest rates of 5% and 6% respectively. Determine the amount of revenue to be recognized by Titan in 20X1? $45,460 $5,000 $50,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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June 30, 20X1 Titan Corp. licensed an archive financial database to Smart Co. for the next five years. Smart is to pay Titan $10,000 at the beginning of each year. Titan and Smart has an incremental borrowing annual interest rates of 5% and 6% respectively. Determine the amount of revenue to be recognized by Titan in 20X1?
$45,460
$5,000
$50,000
$44,651
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