Question: Current Attempt in Progress Presented below are three revenue recognition situations. a . Pharoah sells goods to DTN for $ 9 4 2 ,
Current Attempt in Progress
Presented below are three revenue recognition situations.
a Pharoah sells goods to DTN for $ payment due at delivery.
b Pharoah sells goods on account to Sandhill for $ payment due in days.
c Pharoah sells goods to Sunland 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.
Transaction price
$
a
b
c
Revenue will be recognized
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