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Narda corporation agrees to sell all of its capital stock to Effie corporation

/in /by 

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Narda corporation agrees to sell all of its capital stock to Effie corporation for three monthly payments of $200000. After Effie made the first payment, it ceases making other payments. The stock subscription agreement states that Effie, thus forfeits its payments and is entitled to no other future consideration. How should narda record the 200,000 forfeited payment?Breifly restate the facts of the caseIdentify the issue. State the issue in form of a research questionGive a short answer to the issueCite the ASC authority for your answerExplain the authority and apply it to the facts to discuss your reasoning

 
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