On January 2, 2022, Adani SE sells goods to Geo Company in exchange for a zero-interest bearing
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On January 2, 2022, Adani SE sells goods to Geo Company in exchange for a zero-interest bearing note with a face value of €11,000, with payment due in 12 months. The fair value of the goods at the date of sale is €10,000 (cost €6,000). Prepare the journal entry or entries to record this transaction on January 2, 2022. How much total revenue should be recognized in 2022?
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Related Book For 
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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