Question
Your answer is partially correct. On May 1, 2025, Bonita Company enters into a contract to transfer a product to Eric Company on September
Your answer is partially correct. On May 1, 2025, Bonita Company enters into a contract to transfer a product to Eric Company on September 30, 2025. It is agreed that Eric will pay the full price of $24,000 in advance on June 15, 2025. Eric pays on June 15, 2025, and Bonita delivers the product on September 30, 2025. How much revenue does Bonita recognize (a) June 15, 2025 and (b) September 30, 2025. Revenue (a) June 15, 2025 $ (b) September 30, 2025 -24000 24000
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Accounting Tools for business decision making
Authors: kimmel, weygandt, kieso
4th Edition
978-0470117262, 9780470534786, 470117265, 470534788, 978-0470095461
