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The Jones decided to open a resort. In the first month of operation they collected cash and credit card receipts of $1,850 A rooms rent
The Jones decided to open a resort. In the first month of operation they collected cash and credit card receipts of $1,850 A rooms rent out at $100 a night and during the month they had 16 room rentals. In addition to the 16 rentals, they received non- refundable deposits of $50 each on another five nights of rentals. Three of those deposits related to the current month and the people failed to show up. The Jones did not refund the deposits for these two customers. The remaining two deposits are for future stays. The appropriate amount for them to recognize as revenue for their first month is Select one or more: a. $1,800 b. $1,500. C. $1,700 d. $1,750 e. none of these are correct f. $1,850. g. $1,600
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