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YYY Dealership sold Zip and Zap a motor scooter for $3600 in June. YYY paid the manufacturer $1500 for the motor scooter in April. YYY
YYY Dealership sold Zip and Zap a motor scooter for $3600 in June. YYY paid the manufacturer $1500 for the motor scooter in April. YYY received a $900 payment from Zip and Zap in June and will receive the additional $2700 in July. If YYY used the accrual basis of accounting, then gross profit on the Income Statement for the month of June would be: $2,700 $2,100 $900 $1,500
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