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In the Month of March, Chester received orders of 133 units at a price of $15.00 for their product Camp, and in April receives an
In the Month of March, Chester received orders of 133 units at a price of $15.00 for their product Camp, and in April receives an order for 33 units of their product Camp at $15.00. Chester uses the accrual method of accounting and offers 30 day credit terms. Chester delivers 0 units in March, 133 units in April and 33 units in May. They received payment for 133 units in April, and payment for 33 units in May. How much revenue is recognized on the March income statement from this order? How much in the April Income statement?
$1,995 , $499 | |
$831 , $831 | |
$2,494 , 0 | |
0, $1,995 |
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