Question
In the Month of March, Chester received orders of 189 units at a price of $15.00 for their product Ceft, and in April receives an
In the Month of March, Chester received orders of 189 units at a price of $15.00 for their product Ceft, and in April receives an order for 47 units of their product Ceft at $15.00. Chester uses the accrual method of accounting and offers 30 day credit terms. Chester delivers 0 units in March, 189 units in April and 47 units in May. They received payment for 189 units in April, and payment for 47 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) | ||||
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