In reviewing the agreement between AdCreate and Anchor Motors, Jacob Stein found that sales of Anchor rose 2.8% compared to the previous year in the third quarter. AdCreate paid the media $450,000 for Anchor Motors ads during the same period. Based on this information, which of the following is true for the third quarter billings? I. AdCreate billed Anchor Motors $502,941 for the third quarter in 2016. II. AdCreate's income from the Anchor Motors account for the third quarter of 2016 was $79,412. III. AdCreate billed Anchor Motors $529,412 for the third quarter in 2016.
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In reviewing the agreement between AdCreate and Anchor Motors, Jacob Stein found that sales of Ancho...
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