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Question 30 0/1 point Gupta industries received a 300.000 prepayment from Packard Associates for the...

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Question 30 0/1 point Gupta industries received a 300.000 prepayment from Packard Associates for the sale of new equipment. Gupta will bill Packard an ona 5100.000 upon delivery of the equipment. Upon receiot of the $100.000 prepayment, how much should Gupta recognize for c atat contract liability and accounts receivable Contract aset 50contrat la 1300,000, accounts receivable 50 Contract asset 5300.000: contract liability 50. accounts receivatie, so. Contracts 50. contact liability: $300.000, accounts receive 100.000 Contract a t $300.000 contractibility: 50, accounts rece 5 100.000

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