Question Details
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. |
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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DATE ANSWEREDDec 08, 2020
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