Question
John's Bikes has pricing options of: Bike Pack A: bike $1500 plus $80 membership per month for 1 year Bike: $2000 Membership: $100 per month
John's Bikes has pricing options of:
Bike Pack A: bike $1500 plus $80 membership per month for 1 year
Bike: $2000
Membership: $100 per month for 1 year
Cost of inventory per bike is $1000
Cost of member ship per member per month $2
On November 1st 2021 John sold 1000 basic packages, paid with cash and delivered immediately.
How much sales revenue would be recognized in Nov 2021?
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Financial Accounting
Authors: Jan R. Williams, Susan F. Haka, Mark S. Bettner, Joseph V. Carcello
12th Edition
0071116796, 978-0071116794
