Under accrual accounting, the amount of revenue that Farrison Network should report is $720 million.
Revenue reported
Based on the information given the amount of revenue that should be reported for the year is $720 million.
The reason why the amount of $720 million which is the revenue amount that Farrison earned was reported was simply because the principle of revenue states that regardless of when cash was collected revenue amount should be recorded or reported when it has been earned.
Inconclusion under accrual accounting, the amount of revenue that Farrison Network should report is $720 million.
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