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3 years ago

The following transactions were selected from the records of Evergreen Company:

Business

1 answer:

Bezzdna [24]3 years ago

4 0

Answer:

The amount of revenue to be reported for the m/o July -31 = $8850.

Explanation:

July-12. Account Receivable = $ 940

July-16. Account Receivable = $ 4940

July-19. Account Receivable = $ 2970

July-23. Account Receivable = (4940-4940)=$0 (due to cash received)

July-31. Account receivable= (2970-2970)=$0. (due to cash received)

Sales

Sales to wally = $940

Sales to Claudio = $4940

Sales to Otto = $2970

Total sales = $8850.

Cost of goods sold

Cost of sales to wally = $570

Cost of sales to Claudio = $3470

Cost of sales to Otto = $1870

Total Cost of sales $5910

Gross profit = Sales - cost of sales = 8850 - 5910 = $ 2940.

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