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For each of the following transactions, determine if Raymond Corporation has earned revenue during the month of May and, if so, how much it has
For each of the following transactions, determine if Raymond Corporation has earned revenue during the month of May and, if so, how much it has earned.
- Customers paid Raymond $1,500 for work Raymond will perform in June.
- Customers purchased $6,000 of inventory for which they have not yet paid.
- Raymond performed work for customers and was paid $3,400 in cash.
- Customers paid Raymond $2,300 for inventory purchased in April Record the journal entries for above.
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