Question
In the Month of March, Chester Corporation received orders of 163 units at a price of $15.00 for their product Camp. Chester uses the accrual
In the Month of March, Chester Corporation received orders of 163 units at a price of $15.00 for their product Camp. Chester uses the accrual method of accounting and offers 30 day credit terms. Chester delivers 108 units in March and the balance of 54 units in April. They received payment for 54 units in March, 54 units in April, and 54 units in May. How much revenue is recognized on the March income statement from this order? How much in the April Income statement? (Answer in thousands)
(a) $1,620 , $810
(b) $810 , $810
(c) $2,445 , 0
(d) 0 , $2,445
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