Generic Strategy: Types of Competitive Advantage
2. On June 1, 2015, Johnson & Sons sold equipment to James Landscaping Services. In exchange for a zero-interest bearing note with a face value of $55,000, with payment due in 12 months. The fair value of the equipment on the date of sale was $50,000. The amount of revenue to be recognized on this transaction in 2015 is. a. $55,000. b. $5,000 ... ................
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