Question

Heartstrings Gift Shoppe sells an assortment of gifts for any occasion. During October, Heart- strings started a Gift-of-the-Month program. Under the terms of this program, beginning in the month of the sale, Heartstrings would select and deliver a random gift each month, over the next 12 months, to the person the customer selects as a recipient. During October, Heartstrings sold 25 of these packages for a total of $11,280 in cash.
Required:
For the month of October, calculate the amount of revenue that Heartstrings will recognize.


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  • CreatedSeptember 22, 2015
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