Revenue recognition-using accrual basis of accounting

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Reference no: EM13863722

Revenue recognition: using the accrual basis of accounting and follows THE U.S GAAP. indicate the amount of revenue the firm recognizes during the months of february, march, and april. PLEASE INDICATE THE AMOUNT OF REVENUE IF ANY THE FIRM RECOGNIZES

1. Collects $800 cash from a customer during March for custom- made suit that the firm will make and deliver to the customer in April.

2. Collects $2,160 cash from customers for meals served in the firm's restaurant during march

3. Collects $39,200 cash from customers during March for merchandise auld and delivered in February

4. Sells merchandise to customers during March on account, for which the firm will collect $59,400 cash from customers during April.

Reference no: EM13863722

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