Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Awree Natcatnotus Inc had the following select transactions with Green Landscaping Inc between September 2021 to December 2021. 1. September 7: Awree Natcatnotus provided

image text in transcribed

Awree Natcatnotus Inc had the following select transactions with Green Landscaping Inc between September 2021 to December 2021. 1. September 7: Awree Natcatnotus provided business consulting services of $25,000 and billed Green Landscaping Inc for the services. Green Landscaping will be in 30 days 2. September 12: Awree Natcacnotus signed a $42,000 six-month consulting contract with ABC Tutors. Services will commence in January of next year and payment will be made monthly after services start. 3. October 6: Green Landscaping paid the $25,000 it owed. 4. October 12: Awree Natcatnotus received $25,000 from Green Landscaping for services to be provided over the next two months. 5. October 25: Awree Natcacnotus provided business consulting services worth $17,000 and billed Green Landscaping. Green Landscaping acknowledged the invoiced and agreed to the amount. 6. November 27: Awree Natcacnotus provided business consulting services worth $12,000 and billed Green Landscaping. Green Landscaping acknowledged the invoiced and agreed to the amount, and promised to pay any balance not covered by the $25,000 paid on October 12 within 15 days. 7. December 5: Awree Natcatnotus received $40.000 from Green Landscaping being payment of past services and any remaining balance to be applied towards payment for future services. REQUIRED: Using the above six transactions, how much total revenue should Awree Natcacnotus Inc record? Explain. Cite sources. Responses without sources will incur a 5-point penalty.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Information Systems Managing the Digital Firm

Authors: Ken Laudon, Jane P. Laudon

13th edition

133050696, 978-0133050691

More Books

Students also viewed these Accounting questions