The following transactions are February activities of Swing Hard Incorporated, which offers indoor golfing lessons in Western
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The following transactions are February activities of Swing Hard Incorporated, which offers indoor golfing lessons in Western Canada. If revenue is to be recognized in February, indicate the amount. If revenue is not to be recognized in February, explain why.
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Activity Amount or Explanation a. Swing Hard collected $15,000 from customers for lesson services given in February. b. Swing Hard solda gift card for golf lessons for $150 cash in February. c. Swing Hard received $4,000 from services provided on account to customers in January. d. Swing Hard collected $2,250 in advance payments for services to start in June. e. Swing Hard billed a customer $125 for services provided between February 25 and February 28. The bill is to be paid in March.
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Amount of Revenue Earned in February a 15000 b No revenue earned in Febr...View the full answer
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Related Book For
Fundamentals of Financial Accounting
ISBN: 978-1259269868
5th Canadian edition
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
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