Question: Brief Exercise 6 - 2 0 ( Algo ) Payments by the seller to the customer [ LO 6 - 6 ] Lewis Company sold

Brief Exercise 6-20(Algo) Payments by the seller to the customer [LO6-6]
Lewis Company sold merchandise to AdCo for $77,000 and received $77,000 for that sale one month later. One week prior to receiving payment from AdCo, Lewis made a $15,000 payment to AdCo for advertising services that have a fair value of $10,000.
After accounting for any necessary adjustments, how much revenue should Lewis Company record for the merchandise sold to AdCo?

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