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.

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Fundamentals of Financial Accounting

ISBN: 978-1259864230

6th edition

Authors: Fred Phillips, Robert Libby, Patricia Libby

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