The following transactions were selected from the records of Evergreen Company: July 12 Sold merchandise to Wally
Question:
The following transactions were selected from the records of Evergreen Company:
July 12 Sold merchandise to Wally Butler, who paid the $1,000 purchase with cash. The goods cost Evergreen Company $600.
15 Sold merchandise to Claudio’s Chair Company at a selling price of $5,000 on terms 3/10, n/30. The goods cost Evergreen Company $3,500.
16 Sold merchandise to Otto’s Ottomans at a selling price of $3,000 on terms 3/10, n/30. The goods cost Evergreen Company $1,900.
23 Received cash from Claudio’s Chair Company for the amount due from July 15.
31 Received cash from Otto’s Ottomans for the amount due from July 16.
Required:
Compute the amount of revenue to be reported for the month ended July 31.
Step by Step Answer:
Fundamentals of Financial Accounting
ISBN: 978-1259864230
6th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby