Question
In the Month of March, Chester received orders of 183 units at a price of $15.00 for their product Cedar, and in April receives an
In the Month of March, Chester received orders of 183 units at a price of $15.00 for their product Cedar, and in April receives an order for 46 units of their product Cedar at $15.00. Chester uses the accrual method of accounting and offers 30 day credit terms. Chester delivers 0 units in March, 183 units in April and 46 units in May. They received payment for 183 units in April, and payment for 46 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)
Select: 1
a) $2,745 , $686
b) 0, $2,745
c)$1,144 , $1,144
d) $3,431 , 0
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