Reference no: EM131776202

In the month of March the Baldwin Corporation received and delivered orders of 170,000 units at a price of $15.00 for revenue of $2.550mil for their product Best. Baldwin uses the accrual method of accounting and offers 30 day credit terms. By the end of May Baldwin had collected payments of $2.550mil for the March deliveries. How much of the collected $2.550mil should Baldwin show on the March 31st income statement and how much on the May 31st income statement?

Select: 1

$2.550mil in March;
$0 in May
$0 in March;
$2.550mil in May
$0.842mil in March;
$1.708mil in May
$1.275mil in March;
$1.275mil in May