How much revenue is recognized on the march income


In the Month of March, Chester Corporation received orders of 182 units at a price of $15.00 for their product Creak. Chester uses the accrual method of accounting and offers 30 day credit terms. Chester delivers 122 units in March and the balance of 61 units in April. They received payment for 61 units in March, 61 units in April, and 61 units in May. How much revenue is recognized on the March income statement from this order? How much in the April Income statement? (Answer in thousands)

Solution Preview :

Prepared by a verified Expert
Accounting Basics: How much revenue is recognized on the march income
Reference No:- TGS02577583

Now Priced at $10 (50% Discount)

Recommended (91%)

Rated (4.3/5)