Revenue recognition principle heartstrings gift shoppe

Reference no: EM13575951

Revenue Recognition Principle Heartstrings Gift Shoppe sells an assortment of gifts for any occasion. During October, Heartstrings started a Gift-of-the-Month program. Under the terms of this program, beginning in the month of the sale, Heartstrings would select and deliver a random gift each month, over the next 12 months, to the person the customer selects as a recipient. During October, Heartstrings sold 35 of these packages for a total of $11,400 in cash.

For the month of October, calculate the amount of revenue that Heartstrings will recognize.

Reference no: EM13575951

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