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Business, 21.03.2020 05:29 amandavelez12122005
Robbie Inc. estimated that it will receive $60,000 of consideration for providing services to Stan Company over a 6-month period. Robbie properly accrues $10,000 each month; after two months, Robbie estimates that the total consideration it will receive is only $50,000. For each of the remaining months, Robbie should recognize service revenue of:
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The following transactions occurred during july: received $1,000 cash for services provided to a customer during july. received $4,000 cash investment from bob johnson, the owner of the business received $850 from a customer in partial payment of his account receivable which arose from sales in june. provided services to a customer on credit, $475. borrowed $7,000 from the bank by signing a promissory note. received $1,350 cash from a customer for services to be rendered next year. what was the amount of revenue for july?
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