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3 years ago

The BRS Corporation makes collections on sales according to the following schedule:

Business

1 answer:

RideAnS [48]3 years ago

5 0

Answer:

$110,300

Explanation:

June collections will comprise of

25% of June sales

71% of May sales

4% of April sales

25% of June sales

=25/100 x 100,000

=$25,000

71% of may sales

=71/100 x $110,00

=$78,100

4% of April sales

=4/100 x $180,000

=$7,200

Total June collections

=$25,000 + $78,100 +$7,200

=$110,300

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3 years ago

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Answer:

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Being Recognition of Inventory and de-recognition of cost of sale

Revenue $500 (debit)

Trade Receivable $500 (credit)

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Explanation:

The Entries that Robertson Company should enter for the 2 dates are as follows :

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Cost of Sales $4,000 (debit)

Inventory $ 4,000 (credit)

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Revenue $5,800 (debit)

Being Recognition of Revenue

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3 years ago