QUESTION

ANSWER

$[$LO $2]$ Joss Distributors had the following revenue$-$related transaction during

$$37,500$

December:

Collected cash for services provided in November, $$12,000$

Provided services on account, $$24,500,$ of which Joss collected $$14,000$

Received $$2,000$ on December $1$ for services to be provided evenly in December and

January.

According to the revenue recognition principle, how much revenue should Joss record

for December?