TABLE 1-2 Butler's Best Hardwood had the following transactions for the month of May. May 1-Purchased...

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TABLE 1-2 Butler's Best Hardwood had the following transactions for the month of May. May 1-Purchased $10,000 of furniture on account May 2-Paid rent on showroom of $500 May 12-Sold goods costing $4,000 for $7,500 on account May 18-Purchased $8,000 of furniture for cash May 21 - Sold goods costing $5,000 for $9,000 cash May 29-Paid employees $2,000 May 30-Received utility bill for Nov of $300 to be paid in December. Using Table 1-2, if Butler's Best Hardwood uses an accrual base system of accounting, how much will the firm recognize as revenue for the month of May? TABLE 1-2 Butler's Best Hardwood had the following transactions for the month of May. May 1-Purchased $10,000 of furniture on account May 2-Paid rent on showroom of $500 May 12-Sold goods costing $4,000 for $7,500 on account May 18-Purchased $8,000 of furniture for cash May 21 - Sold goods costing $5,000 for $9,000 cash May 29-Paid employees $2,000 May 30-Received utility bill for Nov of $300 to be paid in December. Using Table 1-2, if Butler's Best Hardwood uses an accrual base system of accounting, how much will the firm recognize as revenue for the month of May?

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