5.8

Calculation of Revenue Riggins Motors buys and sells used cars. Riggins made the following sales during January and February: a. Three cars were sold to Taylor Taxi for a total of $75,000; the cars were delivered to Taylor on January 17. Taytor paid Riggins $20,000 on January 17 and the remaining $55,000 on February 12 . b. One car was sold to Street Classics for $26,000. The car was delivered to Street on January 25. Street paid Riggins on February 1. Required: Calculate the monthly revenue for Riggins for January and February. If an amount is zero, enter " 0 ". January revenue $ February revenue 1