Question: Tulane Tires wrote a contract for a $ 1 0 4 , 0 0 0 sale of tires to the new Garden District Tour Company.

Tulane Tires wrote a contract for a $

104, 000

sale of tires to the new Garden District Tour Company. Tulane only anticipates a slightly greater than

50

percent chance that Garden will be able to pay the amounts that Tulane is entitled to receive under the contract. Upon delivery of the tires, assuming no payment has yet been made by Garden, how much revenue should Tulane recognize under IFRS?

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