Oriole Inc. sells prepaid telephone cards to customers in its convenience stores. When Oriole sells cards,...

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Oriole Inc. sells prepaid telephone cards to customers in its convenience stores. When Oriole sells cards, it then pays the telecommunications company, Sheridan, for the value of the cards less a 20% commissjon. Assume that Oriole receives $4,200 of prepaid cards in January 2025. Oriole sold 45% of the cards in February, 30% in March, and 25% in April. The total payment by Oriole to Sheridan over the 3 months is $3,360. Indicate how much income Oriole should recognize in January, February, March, and April. (If answer is 0, please enter 0. Do not leave any fields blank.) January income SA $ February income $ March income $ April income $ LA Oriole Inc. sells prepaid telephone cards to customers in its convenience stores. When Oriole sells cards, it then pays the telecommunications company, Sheridan, for the value of the cards less a 20% commissjon. Assume that Oriole receives $4,200 of prepaid cards in January 2025. Oriole sold 45% of the cards in February, 30% in March, and 25% in April. The total payment by Oriole to Sheridan over the 3 months is $3,360. Indicate how much income Oriole should recognize in January, February, March, and April. (If answer is 0, please enter 0. Do not leave any fields blank.) January income SA $ February income $ March income $ April income $ LA

Answer rating: 100% (QA)

To determine the income that Oriole Inc should recognize for each month we need to consider the prep... View the full answer