In the Month of March, Chester Corporation received orders of 176 units at a price of $15.00 for their product Cute. Chester uses the accrual method of accounting and offers 30 day credit terms. Chester delivers 118 units in March and the balance of 59 units in April. They received payment for 59 units in March, 59 units in April, and 59 units in May. How much revenue is recognized on the March income statement from this order? How much in the April Income statement? (Answer in thousands)

Cherokee inc. is a merchandiser that provided the following information: amount number of units sold 20,000 selling price per unit $ 30 variable selling expense per unit $ 4 variable administrative expense per unit $ 2 total fixed selling expense $ 40,000 total fixed administrative expense $ 30,000 beginning merchandise inventory $ 24,000 ending merchandise inventory $ 44,000 merchandise purchases $ 180,000 required: 1. prepare a traditional income statement. 2. prepare a contribution format income statement.