On january 1 2010 shaw co sold land that cost 210000 for, Ask an Expert

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On January 1, 2010, Shaw Co. sold land that cost $210,000 for $280,000, receiving a note bearing interest at 10%. The note will be paid in three annual installments of $112,595 starting on December 31, 2010. Because collection of the note is very uncertain, Shaw will use the cost-recovery method. How much revenue from this sale should Shaw recognize in 2010?

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Accounting Basics, Accounting

Category:- Accounting Basics
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