In the month of March the Chester Corporation received and delivered orders of 186,000 units at...

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In the month of March the Chester Corporation received and delivered orders of 186,000 units at a price of $15.00 for revenue of $2.790mil for their product Cid. Chester uses the accrual method of accounting and offers 30 day credit terms. By the end of May Chester had collected payments of $2.790mil for the March deliveries. How much of the collected $2.790mil should Chester show on the March 31st income statement and how much on the May 31st income statement? Select: 1 Save Answer $1.395mil in March; $1.395mil in May $2.790mil in March; $0 in May $0 in March; $2.790mil in May $0.921mil in March; $1.869mil in May In the month of March the Chester Corporation received and delivered orders of 186,000 units at a price of $15.00 for revenue of $2.790mil for their product Cid. Chester uses the accrual method of accounting and offers 30 day credit terms. By the end of May Chester had collected payments of $2.790mil for the March deliveries. How much of the collected $2.790mil should Chester show on the March 31st income statement and how much on the May 31st income statement? Select: 1 Save Answer $1.395mil in March; $1.395mil in May $2.790mil in March; $0 in May $0 in March; $2.790mil in May $0.921mil in March; $1.869mil in May