Question
alpha has both cash sales and credit sales . In addition customers will often pay in advance for special orders of merchendize. The following info.
alpha has both cash sales and credit sales . In addition customers will often pay in advance for special orders of merchendize. The following info. is included in Apha's december 31 balance sheet for 2014 and 2015.
A/R 2014 15000 and 2015 is 25000
Unearned sales revenue 2014 is 11000 and 2015 is 20000
during 2015 alpha received cash of 160000 from customers. In its income statement for the year ended december 31 2015 how much sales revenue should alpha report on an accrual basis ?
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
13th edition
978-1-119-4110, 1119411483, 9781119411017, 978-1119411482
