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Question 19 4 points Save Answer Enc's Travel Service sells airline and cruise ship tickets. Eric's is entitled to an 8% commission on any
Question 19 4 points Save Answer Enc's Travel Service sells airline and cruise ship tickets. Eric's is entitled to an 8% commission on any airline and cruise ship tickets sold. Eric's collects the full amount from the customer and then remits the balance due to the airline and cruise ship carriers. The airlines and cruise ships are responsible for fulfilling the transportation services to the customer. During May 2021, Eric's Travel Service collected $400,000 from customers and remitted the amounts due to the carriers. Applying the revenue recognition rules, what is the amount of revenue that Eric's Travel Service should report for May 2021? OA $0 OR $368.000 OC $32,000 O0 $400,000
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