loader  Loading... Please wait...

Question(s) / Instruction(s):

Under Accrual based accounting, revenue is recognized when earned.  A company had the following transactions occur in January:

Cash Sales of $40,000

Sales on account which have not been collected yet $50,000

$20,000 cash collected from refundable customer deposits

What amount of Revenue would be recognized on the January income statement?

Find Similar Answers by Subject


Student Reviews

Rate and review your solution! (Please rate on a Scale of 1 - 5. Top Rating is 5.)


Expert's Answer
Download Solution:
$1.79

This solution includes:

  • Plain text
  • Cited sources when necessary
  • Attached file(s)
  • Solution Document(s)

You Recently Viewed...



Reach Us

408-538-8534

20-3582-4059

39-008-4233

+1-408-904-6494