Question: BE 1 7 . 8 ( LO 2 ) Presented below are three revenue recognition situations. Groupo sells goods to MTN for $ 1 ,
BELO Presented below are three revenue recognition situations.
Groupo sells goods to MTN for $ payment due at delivery.
Groupo sells goods on account to Grifols for $ payment due in days.
Groupo sells goods to Magnus for $ payment due in two installments, the first installment payable in months and the second payment due months later. The present value of the future payments is $
Indicate the transaction price for each of these situations and when revenue will be recognized.
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