On January 1, 2012, Hood Company sold specialized computers costing $760,000 to Crater, Inc.for $990,000.Hood Company's technicians must complete the installation, and Hood Company's trainers present numerous training sessions for Crater's employees during the installation period.Carter made a 50% down payment, with the balance due upon completion of installation.How much revenue should Hood Company recognize on its books on January 1, 2012?
A) $-0-
B) $760,000.
C) $495,000.
D) $990,000.
Correct Answer:
Verified
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