Goods billed and shipped fob shipping, Accounting Basics

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Goods billed and shipped fob shipping

The following financial data of Tim Corporation is available for the year 2013. Compute the sales revenue to be recognized in 2013.

Goods Billed and shipped FOB shipping $3,600,000.

Down payment received for future shipments $60,000

Orders received $ 4,010,000

Selling and Distribution expenses $53,000

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Accounting Basics: Goods billed and shipped fob shipping

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