Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Given the following information, how much revenue would be recognised in June? (1) Sales on credit of $100,000 in June, 20% to be collected in

image text in transcribed
Given the following information, how much revenue would be recognised in June? (1) Sales on credit of $100,000 in June, 20% to be collected in June (2) Collected $70,000 in June from customers for May sales (3) Received a deposit in June from a customer for $30,000; the work is to be carried out in August Revenue is: Select one: O a. $90,000 O b. $100,000 O c. $130,000 O d. $170,000

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

A Concise Course On Auditing An Authoritative Text For Stakeholders

Authors: Onyuka Felix McDubus

1st Edition

3844395415, 978-3844395419

More Books

Students also viewed these Accounting questions