Business, 13.04.2021 01:00 igtguith

Very early in year 8, while developing software for sale to others, after achieving technological feasibility but before the commencement of commercial production, X Company incurred $320,000 to produce product masters and to test the software. X Company estimated that the software will be sold for a total of 10 years. After nearly a full year of selling, X had revenues from software sales of $120,000 in year 8. Sales in future periods are expected to amount to $680,000. Costs associated with producing and packaging the software approximate 10% of revenues. What portion, if any, of the $320,000 will be recognized in income in year 8

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Very early in year 8, while developing software for sale to others, after achieving technological fe...

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