[Solved] On December 28,2016,Omega Steel,Inc

Question 326

On December 28,2016,Omega Steel,Inc.sold $100,000 of steel sheets to a car manufacturer.Due to holidays,Omega was unable to find a truck driver to deliver the product.Delivery was finally made on January 5,2017.
Required: How much revenue should Omega recognize in 2016 for the sale to the car
manufacturer? Explain your answer.

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