What are the proper accounting treatment and journal entries

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Problem

As described above, on January 1, 20X0 (the grant date), $30 million of sales were probable for year 5. During years 1, 2, and 3, $30 million of sales for year 5 remained probable. At the beginning of year 4, management determines that it is probable that only $22 million of sales will occur for year 5. Get the instant assignment help. What are the proper accounting treatment and journal entries for each year?

Reference no: EM133923163

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