Answered step by step
Verified Expert Solution
Question
1 Approved Answer
does 25,000 count as revenue? No SIM One of the company's most frequent customers is Green Landscaping Inc. Awree Natcatnotus Inc had the following select
does 25,000 count as revenue? No SIM One of the company's most frequent customers is Green Landscaping Inc. Awree Natcatnotus Inc had the following select transactions with Green Landscaping Inc between September 2017 to December 2017. 1. September 7, 2017: Awree Natcatnotus provided business consulting services of $18,000 and billed Green Landscaping Inc for the services. Green Landscaping will be in 30 days. 2. October 6, 2017: Green Landscaping paid the $18,000 it owed. 3. October 12, 2017: Awree Natcatnotus received $25,000 from Green Landscaping for services to be provided over the next two months. 4. October 25, 2017: Awree Natcacnotus provided business consulting services worth $17,000 and billed Green Landscaping. Green Landscaping acknowledged the invoiced and agreed to the amount. 5. November 27, 2017: 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. 6. December 5, 2017: Awree Natcatnotus received $25,000 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
does 25,000 count as revenue?
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