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Question 1: This year, WP began asking customers to make a fully refundable deposit six months before their wedding date. These deposits are used to reserve the Pavilion for the scheduled date and to pay the rental fees when the wedding takes place. They were recognized in revenue when they were received. As of December 31, 2019, the total of these deposits was $ 25,000 and applied to weddings which will take place in 2020. Is this a sale? Is it ASPE revenu p 4 ?

Reference no: EM132489606

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