Question
Please assist with the following. Thanks. Shamrock, Inc. is a distributor of prepaid telephone cards to customers in its convenience stores. When Shamrock sells the
Please assist with the following. Thanks.
Shamrock, Inc. is a distributor of prepaid telephone cards to customers in its convenience stores. When Shamrock sells the cards, it then pays the telecommunications company, TeleExpress, less a commission of 20 percent of the selling price to customers. Shamrock receives $4,400 in cards in January 2020. Shamrock sold 50% of the cards in February, 30% in March, and 20% in April. It costs TeleExpress $2,740 to provide the telephone service on the cards sold by Shamrock. Indicate how much income Shamrock should recognize in January, February, March, and April.
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