Question
Teal, Inc. is a distributor of prepaid telephone cards to customers in its convenience stores. When Teal sells the cards, it then pays the telecommunications
Teal, Inc. is a distributor of prepaid telephone cards to customers in its convenience stores. When Teal sells the cards, it then pays the telecommunications company, TeleExpress, less a commission of 20 percent of the selling price to customers. Teal receives $4,400 in cards in January 2020. Teal 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 Teal. Indicate how much income Teal should recognize in January, February, March, and April. (If answer is 0, please enter 0. Do not leave any fields blank.)
January income | $enter a dollar amount | |
---|---|---|
February income | $enter a dollar amount | |
March income | $enter a dollar amount | |
April income | $enter a dollar amount |
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