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Concord Rail Ltd., which follows IFS, sells student rail passes for $160 for a four-month...

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Accounting

Concord Rail Ltd., which follows IFS, sells student rail passes for $160 for a four-month semester (January to April). Using the five-step model, determine the amount of revenue that Concord Rail would recognize in January, assuming that 2,400 student transit passes were sold for the semester. Amount of revenue $

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