Stanley Company shipped the following merchandise during the last week of December 2019. All sales were on credit.

Required:
1. Compute the total amount of sales revenue recognized by Stanley in December 2019.
2. If Stanley included all of the above shipments as revenue, what would be the effect on Stanley's assets, liabilities, stockholders' equity, revenues, expenses, and net income for 2019?

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Date Goods Shipped December 27 December 29 December 29 Date Goods Received January 3 January 5 December 31 Shipping Terms F.O.B. shipping point Sales Price $5,460 $3,800 $4,250 F.O.B. destination