On July 1, 2025, SEK Company sold goods to Grant Co. worth $…
On July 1, 2025, SEK Company sold goods to Grant Co. worth $900,000 in exchange for a 4-year, zero-interest-bearing note with a face amount of $1,416,163. The goods have an inventory cost on SEK’s books of $590,000. SEK uses the perpetual inventory method. How much revenue should SEK recognize on July 1, 2025? If none enter $0.
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