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Dowell Fishing Supply, Inc., sold $66,000 of Dowell Rods on December 15, 2021, to Bassadrome. Because of a shipping backlog,

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Answer #1
Revenue = 0
According to Revenue Recognition Principle, revenue is recognized when goods or services are delivered and no uncertainty exists regarding the amount to be received.
In the given case, as the goods have not been delivered yet, it does not meet the criteria of Revenue Recognition, no Revenue is to be recognized.
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