Question
Blossom Inc. sells prepaid telephone cards to customers. Blossom then pays the telecommunications company, TeleExpress, for the actual use of its telephone lines related to
Blossom Inc. sells prepaid telephone cards to customers. Blossom then pays the telecommunications company, TeleExpress, for the actual use of its telephone lines related to the prepaid telephone cards. Assume that Blossom sells $3,700 of prepaid cards in January 2020. It then pays TeleExpress based on usage, which turns out to be 50% in February, 30% in March, and 20% in April. The total payment by Blossom for TeleExpress lines over the 3 months is $2,800.
Indicate how much income Blossom should recognize in January, February, March, and April. (If answer is 0, please enter 0. Do not leave any fields blank.)
January income $enter a dollar amount
February income $enter a dollar amount
March income $enter a dollar amount
April income $enter a dollar amount
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started