Question: Suppose Accenture sold software with a retail value of 240 000
Suppose Accenture sold software with a retail value of $240,000 to Atlanta Pictures, Inc. Instead of receiving cash, Accenture received 22,000 shares of Atlanta Pictures stock, which at the time was selling for $10 per share. What revenue should Accenture recognize on the sale? Prepare the journal entry for this sale.
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