Business, 19.09.2020 01:01, mrfishyyyy

Gil is a Baxley Co. salesman desperate to make quota by the end of year 3. On the afternoon of December 31, year 3, he convinces a longtime customer with excellent credit to sign a contract to accept delivery of Baxley Co.’s Widgetron Deluxe. Gil promises the customer a deep discount off the list price that they can ‘hash out later’ if the customer is 100% happy with the product. Gil does not tell the customer that the company’s policy in such cases is to offer the maximum discount of 30%. The customer states he will have to consult an astrologer and a groundhog to determine if he is happy with the product. Gil oversees the delivery that evening of the Widgetron Deluxe. Should the revenue from this sale be recognized in year 3? Why or why not?

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Gil is a Baxley Co. salesman desperate to make quota by the end of year 3. On the afternoon of Decem...