How much revenue is recognized on the march income


Question - In the Month of March, Digby Corporation received orders of 171 units at a price of $15.00 for their product Deft. Digby uses the accrual method of accounting and offers 30 day credit terms. Digby delivers 114 units in March and the balance of 57 units in April. They received payment for 57 units in March, 57 units in April, and 57 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:- TGS02855149

Now Priced at $20 (50% Discount)

Recommended (97%)

Rated (4.9/5)