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(Solved): Wildhorse Company selb goods that cost $439,500 to Cato Compamy for $571,500 on January 2,2025 on a ...




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Wildhorse Company selb goods that cost to Cato Compamy for on January 2,2025 on account. The sales price includes an installation fee, which is valued at 558,500 . The fair value of the goods is . The installation is considered a separate performance obligation and is expected to take 6 moniths to complete. Wildhorse prepares an income statement for the first quarter of 2025 , ending on March 31,2025 (installation was completed on June 18.2025). How much revenue should Wildtiorse recognize related to its sale to Cato?


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Working Note -1 Journal entries of the following transaction.
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