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    qnlrnr mlla
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    Indomitable Company sold 100,000 gallons of heating oil in October 2020 at $40 per gallon, with 50,000 gallons delivered in December 2020 and 50,000 gallons in January 2021. Payment terms were 50% due on October 1, 2020, 25% due on the first delivery, and 25% due on the second delivery.

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    Indomitable Company sold 100,000 gallons of heating oil in October 2020 at $40 per gallon, with 50,000 gallons delivered in December 2020 and 50,000 gallons in January 2021. Payment terms were 50% due on October 1, 2020, 25% due on the first delivery, and 25% due on the second delivery.

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    © All Rights Reserved
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    2 views3 pages

    Document 16

    Uploaded by

    qnlrnr mlla
    Indomitable Company sold 100,000 gallons of heating oil in October 2020 at $40 per gallon, with 50,000 gallons delivered in December 2020 and 50,000 gallons in January 2021. Payment terms were 50% due on October 1, 2020, 25% due on the first delivery, and 25% due on the second delivery.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 3

    On October 1, 2023, indomitable Company sold 100,000

    gallons of heating oil at P40 per gallon. Fifty thousand


    gallons were delivered on December 15, 2020, and the
    remaining 50,000 gallons were delivered on January 15,
    2021.
    Payment terms were: 50% due c3n October 1, 2020, 25% on the
    first delivery, and the remaining 25% due on the second
    delivery.
    amount of sales revenue should be recognized during
    2020?

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