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Tulane tires wrote a contract for $100,000 sale to the new Garden district tour company.

Tulane tires wrote a contract for $100,000 sale to the new Garden district tour company. Tulane only appreciates greater than 50% chance that Garden will be able to pay the amount that Tulane is entitled to receive under contract. Upon delivery of the tires, assuming no payment has yet been made by Gardens, how much revenue should Tulane recognized under U.S. IFRS?

 

Sep 14 2020 Read more Less More

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