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Tomtit [17]
3 years ago
14

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 =<u> $2970</u>

Total sales = $8850.

Cost of goods sold

Cost of sales to wally = $570

Cost of sales to Claudio = $3470

Cost of sales to Otto =  <u>$1870</u>

 Total Cost of sales       $5910

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

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