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In the month of March the Chester Corporation received and delivered orders of 1 7 5 , 0 0 0 units at a price of
In the month of March the Chester Corporation received and delivered orders of units at a price of $ for revenue of $mil for their product Clack. Chester uses the accrual method of accounting and offers day credit terms. By the end of May Chester had collected payments of $mil for the March deliveries. How much of the collected $mil should Chester show on the March st income statement and how much on the May st income statement?
$mil in March; $mil in May
$mil in March; $ in May
$ in March; $mil in May
$mil in March; $mil in May
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