Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 1 The following transactions are July activities of Emma's Tik Tok Service, which creates videos. Emma's collected $2524 from credit customers for services
Question 1 The following transactions are July activities of Emma's Tik Tok Service, which creates videos. Emma's collected $2524 from credit customers for services related to videos created in June. Emma's billed a customer for $901 for a video made on the last day of July. The bill is to be paid in August. On July 1, a customer gave Emma's advance payments totaling $1400 for the five months of work to be done equally staring in July Emma's received $697 from video created for customers in July. What is the revenue Emma will recognize in July? Question 2 The following transactions are July activities of Evan's Tik Tok Service, which creates videos. Evan collected cash $4707 from customers for services related to videos created in July (the accounts were not accounts receivable). Evan billed a customer for $912 for a video made on the last day of July. The bill is to be paid in August. On July 1, a customer gave Evan advance payments totaling $2957 for the four months of work to be done equally staring in July .Evan received $584 from credit sales made to customers last month (in June). By what amount did total cash increase during July?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started