Transactions performance obligation satisfied

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Reference no: EM134039003

Question

Transactions Performance obligation satisfied? OI shipped an order of satellite phones to a customer on December 15, Year 1, under a contract that stipulates customer acceptance. The customer did not sign off and accept the goods until January 5, Year 2. The performance obligation is satisfied over the period of the contract. A customer received a shipment of goods from OI 91 days ago. They have not yet paid for the goods.

Reference no: EM134039003

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