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just olya [345]
2 years ago
7

Tulane Tires wrote a contract for a $104,000 sale of tires to the new Garden District Tour Company. Tulane only anticipates a sl

ightly greater than 50 percent chance that Garden will be able to pay the amounts that Tulane is entitled to receive under the contract. Upon delivery of the tires, assuming no payment has yet been made by Garden, how much revenue should Tulane recognize under U.S. IFRS
Business
1 answer:
mafiozo [28]2 years ago
3 0

Answer: $0

Explanation:

Under the United States IFRS, we should note that in this case, the contract according to the question will not be able to qualify for revenue recognition since the percentage of it occuring is more than 50% which mean that it is very likely it'll exist.

Therefore, in this case, revenue recognized will be $0.

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Hoochie [10]
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3 years ago
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kondaur [170]

Answer:

Free Rein Style

Explanation:

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Free rein style is the most suitable.

7 0
3 years ago
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7nadin3 [17]

Answer:

False

Explanation:

This is false.

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marta [7]

Answer:

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Learn more about sales discount here

brainly.com/question/7459025

#SPJ4

3 0
1 year ago
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