Reference no: EM131253571
The Beige Box Computer Store had the following transactions in April 2016.
Required:
For each transaction, indicate in the space provided how much, if any, revenue or expense should be recorded in April, 2016.
a) Sold a computer to a customer in the amount of $3,000. Delivered the computer in April. Customer paid in May, 2016.
Amount of revenue to be recorded in April________________
b) Collected $1,500 in April from a customer for a computer to be delivered in May.
Amount of revenue to be recorded in April________________
c) Paid $1,000 in sales commisions to sales persons related to sales that were made in March 2016.
Amount of expense to be recorded in April________________
d) Paid $1,800 on April 1, 2016 for a 6-month insurance policy to cover the period from April 1,2016- September 30,2016.
Amount of expense to be recorded in April________________
e) Received an electric bill for April in the amount of $250. The bill is not due for payment until May 15.
Amount of expense to be recorded in April_________________
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