a$.$ Byrde Company purchased a truck. The seller asked for $$13,000,$ but Byrde paid only $$12,000$ after negotiation. The owner of

Byrde Company believes he got a great deal and the truck is really worth $$17,000.$ What amount does Byrde record on its

financial statements for the truck?

b$.$ Snell Company performs services for a client in May and bills the client $$3,000.$ In June, Snell receives a partial payment of

$$1,300$ cash. In July, the remaining $$1,700$ cash is received. Determine the monthly revenue recorded in May, June, and July

applying revenue recognition principle.

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Byrde Company purchased a truck. The seller asked for $$13,000,$ but Byrde paid only $$12,000$ after negotiation. The owner of

Byrde Company believes he got a great deal and the truck is really worth $$17,000.$ What amount does Byrde record on its

financial statements for the truck?