total amount of revenue t
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
On July 1, 2022, John entered into a 12-month telecom plan with Cabinet Telecom. The terms of the plan includes the following:
Calida's monthly fixed fee is P2,000.
Calida receives a free handset at the inception of the plan.
Tela Telecom sells the same handsets for P6,000 and the same monthly prepayment plans w/out handset for P1,600/month.
Determine the total amount of revenue to be recognized by Cabinet Telecom in 2022
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