On June 30, B&B Inc. a food catering service in Plano had billable revenue of $15,400 for

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On June 30, B&B Inc. a food catering service in Plano had billable revenue of $15,400 for the month of June, cost of goods sold of $14,200. B&B also collected $11,800 of cash for walk in sales for the month and had Administrative Expenses of $400.

Under point-of-sale revenue recognition, how much gross profit will B&B recognize during the year?

A. $15,400

B. $12,600

C. $11,800

D. $13,000

Related Book For answer-question

Fundamental accounting principle

ISBN: 978-0078025587

21st edition

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

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Posted Date: Feb 02, 2024 11:23 PM

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On June 30, B&B Inc. a food catering service in Plano had billable revenue of $15,400 for

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Fundamental accounting principle

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