Derby Company sells season passes to its entertainment center. The passes sell for $85 each and are
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Question:
Derby Company sells season passes to its entertainment center. The passes sell for $85 each and are good for the year. On January 1, Derby sells 3,000 passes and received cash. The amount of revenue to be recognized on January 1 is ________.
A. $0
B. $127,500
C. $255,000
D. $21,250
Related Book For
Accounting Volume 2
ISBN: 978-0176509743
2nd Canadian edition
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
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