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In December, a company signed a contract with a regular customer to sell products for $100,000. In January, the company received a payment of $100,000 from this customer for products to be delivered in
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In December, a company signed a contract with a regular customer to sell products for $100,000. In January, the company received a payment of $100,000 from this customer for products to be delivered in February. Revenue regarding this transaction is recognized:

User Thomas Jones
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Answer: In January, when the products are delivered.

User Dustin Cook
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