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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. |
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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