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VMariaS [17]
3 years ago
13

In the Month of March, Digby received orders of 159 units at a price of $15.00 for their product Drat, and in April receives an

order for 40 units of their product Drat at $15.00. Digby uses the accrual method of accounting and offers 30 day credit terms. Digby delivers 0 units in March, 159 units in April and 40 units in May. They received payment for 159 units in April, and payment for 40 units in May. How much revenue is recognized on the March income statement from this order
Business
1 answer:
zhannawk [14.2K]3 years ago
7 0

Answer: 0

Explanation:

Accrual accounting method simply means when revenue or expenses are written down and recorded at the time that the transaction took place and not when payment was gotten.

The revenue that is recognized on the March income statement will be 0. This is because the delivery was in April and none took place in March.

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Answer:

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Another issue that must be considered is that 30,000 units / 4 quarters = 7,500 units per quarter, and Nolan clearly purchased more than that.

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3 years ago
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