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The following transactions are July 2014 activities of Craigs Bowling, Inc., which operates several bowling centers (for games and equipment sales). a. Craigs collected $15,000

The following transactions are July 2014 activities of Craigs Bowling, Inc., which operates several bowling centers (for games and equipment sales).

a. Craigs collected $15,000 from customers for games played in July.
b.

Craigs sold bowling equipment inventory for $8,000; received $3,000 in cash and the rest on account. [The cost of goods sold (expense) related to these sales is $6,800.]

c. Craigs received $4,000 from customers on account who purchased merchandise in June.
d. The mens and ladies bowling leagues gave Craigs a deposit of $2,500 for the upcoming fall season.

image text in transcribed

If revenue is not recognized in July, choose "None.

The following transactions are July 2014 activities of Craiga??s Bowling, Inc., which operates several bowling centers (for games and equipment sales). a. Craiga??s collected $15,000 from customers for games played in July. b. Craigas sold bowling equipment inventory for $8,000; received $3,000 in cash and the rest on account. [The cost of goods sold (expense) related to these sales is $6,800.] c. Craigas received $4,000 from customers on account who purchased merchandise in June. d. The mena??s and ladiesa?? bowling leagues gave Craiga??s a deposit of $2,500 for the upcoming fall season. If revenue is not recognized in July, choose None

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