P2.13 PROBLEM 2.13 Recognise revenue Calculate the total revenue for the month of February 2022, given...

Transcribed Image Text:

P2.13 PROBLEM 2.13 Recognise revenue Calculate the total revenue for the month of February 2022, given the following transactions. 1 Credit sales of $200 000 made in February; 40 per cent to be collected in February. Cash sales of $160 000. Received rental revenue of $9000 for the month of February. 4 Interest of $12 000 is credited to the company bank statement. It relates to interest eamed for the six months from 1 August 2021 to 31 January 2022. 5 Received $40 000 as a deposit from a customer for a job to be carried out in March. 2 3 P2.13 PROBLEM 2.13 Recognise revenue Calculate the total revenue for the month of February 2022, given the following transactions. 1 Credit sales of $200 000 made in February; 40 per cent to be collected in February. Cash sales of $160 000. Received rental revenue of $9000 for the month of February. 4 Interest of $12 000 is credited to the company bank statement. It relates to interest eamed for the six months from 1 August 2021 to 31 January 2022. 5 Received $40 000 as a deposit from a customer for a job to be carried out in March. 2 3

Answer rating: 100% (QA)

The image shows a problem statement related to revenue recognition The task is to calculate the tota... View the full answer