In its first month of business, Lord of the Fries, Inc., collected $33,000 from customers in...

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In its first month of business, Lord of the Fries, Inc., collected $33,000 from customers in advance during May. At May 31, it had a balance in its Deferred Revenue of $9,000. What is the amount of Revenue reported on the income statement for the month ended May 31? In its first month of business, Lord of the Fries, Inc., collected $33,000 from customers in advance during May. At May 31, it had a balance in its Deferred Revenue of $9,000. What is the amount of Revenue reported on the income statement for the month ended May 31?

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The amount of Revenue reported on the income statement for the month ended May 31 is 24000 ... View the full answer