M3-2 (Static) Identifying Revenues LO3-2, 3-3 The following transactions are July activities of Bennett's Bowling, Incorporated,...

Transcribed Image Text:

M3-2 (Static) Identifying Revenues LO3-2, 3-3 The following transactions are July activities of Bennett's Bowling, Incorporated, which operates several bowling centers, offering customers lanes for games, snack bar service, and merchandise for sale from the pro shop. a. Bennett's collected $15,000 from customers for games played in July. b. Bennett's served customers food from its snack bar; received $800 in cash. c. Bennett's received $400 from customers who purchased merchandise from the pro shop in June on account. d. The men's and ladies' bowling leagues gave Bennett's a deposit of $2,500 for the upcoming fall season. If revenue is not recognized in July, choose 'None' for the account affected. If revenue is to be recognized in July, indicate the revenue account title and amount. Activity Revenue Account Title Amount of Revenue a. b. None C. d. Games revenue Interest revenue Rent revere Snack bar revenue M3-2 (Static) Identifying Revenues LO3-2, 3-3 The following transactions are July activities of Bennett's Bowling, Incorporated, which operates several bowling centers, offering customers lanes for games, snack bar service, and merchandise for sale from the pro shop. a. Bennett's collected $15,000 from customers for games played in July. b. Bennett's served customers food from its snack bar; received $800 in cash. c. Bennett's received $400 from customers who purchased merchandise from the pro shop in June on account. d. The men's and ladies' bowling leagues gave Bennett's a deposit of $2,500 for the upcoming fall season. If revenue is not recognized in July, choose 'None' for the account affected. If revenue is to be recognized in July, indicate the revenue account title and amount. Activity Revenue Account Title Amount of Revenue a. b. None C. d. Games revenue Interest revenue Rent revere Snack bar revenue