How much revenue should be recognized by aaa mining corp, Accounting Basics

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How much revenue should be recognized by aaa mining corp

Question: AAA Mining Corp has agreed to deliver total of 100,000 tons nickel to ABC Inc over 3 years with fixed rate of P2500/ton. ABC Inc paid in advance a total of P125,000,000. On year 1, AAA Mining Corp has successfully mined and delivered 35,000 tons to AAA Mining Corp. Under revenue recognition principle, how much revenue should be recognized by AAA mining corp? A. P125,000,000 B. P87,500,000 C. P43,750,000 D. P250,000,000

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Accounting Basics: How much revenue should be recognized by aaa mining corp

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Accounting Basics: How much revenue should be recognized by aaa mining corp

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