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(Solution Download) The following transactions are July 2014 activities of CraigAc??cs Bowling, Inc., which operates


 

 

 

 

 

 

 

The following transactions are July 2014 activities of CraigAc??cs

 

Bowling, Inc., which operates several bowling centers (for games

 

and equipment sales).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

a.

CraigAc??cs collected $15,000 from

 

customers for games played in July.

b.

 

CraigAc??cs sold bowling equipment inventory for $8,000; received

 

$3,000 in cash and the rest on account. [The cost of goods sold

 

(expense) related to these sales is $6,800.]

 

 

c.

CraigAc??cs received $4,000 from

 

customers on account who purchased merchandise in June.

 

d.

The menAc??cs and ladiesAc??c bowling

 

leagues gave CraigAc??cs a deposit of $2,500 for the upcoming fall

 

season.

 

Image for The following transactions are July 2014 activities of Craiga??s Bowling, Inc., which operates several bowling

 

 

 

 

 

 

 

 

If revenue is not recognized in July, choose "None.

 

 

Show transcribed image text The following transactions are July 2014 activities of Craiga??s Bowling, Inc., which operates several bowling centers (for games and equipment sales). a. Craiga??s collected $15,000 from customers for games played in July. b. Craigas sold bowling equipment inventory for $8,000; received $3,000 in cash and the rest on account. [The cost of goods sold (expense) related to these sales is $6,800.] c. Craigas received $4,000 from customers on account who purchased merchandise in June. d. The mena??s and ladiesa?? bowling leagues gave Craiga??s a deposit of $2,500 for the upcoming fall season. If revenue is not recognized in July, choose None.

 


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