Shaw Company sells goods that cost $300,000 to Ricard Company for $410,000 on January 2, 2012. The
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Instructions
(a) Prepare the journal entry (if any) to record the sale on January 2, 2012.
(b) Shaw prepares an income statement for the first quarter of 2012, ending on March 31, 2012. How much revenue should Shaw recognize related to its sale to Ricard?
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a Accounts Receivable 410000 Sales Reve...View the full answer
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