ABC Co sold merchandise to DEF Co for P120,000 and received P120,000 for that sale one month later. One week prior to receiving payment from DEF, ABC made a P20,000 payment to DEF for advertising...

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ABC Co sold merchandise to DEF Co for P120,000 and received P120,000 for that sale one month later. One week prior to receiving payment from DEF, ABC made a P20,000 payment to DEF for advertising services that have a fair value of P15,000. After accounting for any necessary adjustments, how much revenue should ABC record for the merchandise sold to DEF?

ABC Co sold merchandise to<br>DEF Co for P120,000 and<br>received P120,000 for that sale<br>one month later. One week prior<br>to receiving payment from DEF,<br>ABC made a P20,000 payment<br>to DEF for advertising services<br>that have a fair value of P15,000.<br>After accounting for any<br>necessary adjustments, how<br>much revenue should ABC<br>record for the merchandise sold<br>to DEF?<br>

Extracted text: ABC Co sold merchandise to DEF Co for P120,000 and received P120,000 for that sale one month later. One week prior to receiving payment from DEF, ABC made a P20,000 payment to DEF for advertising services that have a fair value of P15,000. After accounting for any necessary adjustments, how much revenue should ABC record for the merchandise sold to DEF?

Jun 09, 2022

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ABC Co sold merchandise to DEF Co for P120,000 and received P120,000 for that sale one month later. One week prior to receiving payment from DEF, ABC made a P20,000 payment to DEF for advertising...

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