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Magical Corporation is a private corporation that sells one week all inclusive packages...

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Question

Accounting

Magical Corporation is a private corporation that sells one week all inclusive packages to their beach resort. Customers must pay
20%
when the trip is booked and
80%
one week before the trip. Before offering this deal the company does a background credit check on the customers. Magical Corporation sells the one week all inclusive package to their resort for $
2000
per person. The costs for the corporation are approximately $
700
per person. Assuming the company uses ASPE when the revenue should be recognized and why. the RCMP criteria when answer the question and facts from the question.

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