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In the month of March the Baldwin corporation received and delivered orders of 132,000 units at a price of $15.00 for revenue of $1.980mil for
In the month of March the Baldwin corporation received and delivered orders of 132,000 units at a price of $15.00 for revenue of $1.980mil for their product. Baldwin uses the accural method of accounting and offers 30 day credit terms. By the end of May Baldwin had collected payments of $1.980mil for the March deliveries. How much of the collected $1.980mil should Baldwin show on the March 31st income statement and how much on the May 31st income statement?
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