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Blossom Inc. sells prepaid telephone cards to customers. Blossom then pays the telecommunications company, TeleExpress, for the actual use of its telephone lines related to the prepaid telephone cards. Assume that Blossom sells $3,700 of prepaid cards in January 2020. It then pays TeleExpress based on usage, which turns out to be 50% in February, 30% in March, and 20% in April. The total payment by Blossom for TeleExpress lines over the 3 months is $2,800.
Problem 1: Indicate how much income Blossom should recognize in January, February, March, and April. (If answer is 0, please enter 0. Do not leave any fields blank.)
What are the Sales (also called Net Sales, Net Revenue, or Operating Revenue) for the most recent three years? This is normally the largest number.
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costs incurred to date 280000 600000 785000 estimated costs yet to be incurred 520000 200000 0 customer billings to
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