VQuestions 7 and 8 are grouped.不計計7.At the beginning of this year, Mac Allister enters into a contract to sell a product to its customerwith the following terms. The unit price is $10; but if the customer purchases more than 1,000units in one year, the unit price is $9. The customer does not have a right of return. Mac Allisterprepares quarterly financial statements.In the first quarter, Mac Allister delivers 150 units to the customer. Mac Allister estimates that it ismost likely that the customer will not purchase as much as 1,000 units by the year-end. How muchsales revenue should Mac Allister recognize for the first quarter?A. $10,000150 x 10= 1500*UB. $9,000C. $1,500D. $1,350According to the preceding question, in the second quarter, due to unexpected shortage of acomponent for which Mac Allister's product can substitute, Mac Allister delivers 400 units to thecustomer, and estimates that it is most likely that the customer will purchase more than 1,000 unitsby the year-end. At the end of the second quarter, how much sales revenue should Mac Allisterrecord in the journal entries?Note that in the first quarter, Mac Allister delivers 150 units to the customer and estimates at theend of the first quarter that it is most likely that the customer will not purchase as much as 1,000units by the year-end.A. $4,000/ 150.B. $3,600950-9-1850!C. $3,450D. $3,300фоох23600-150=3450 *

Herein, the seller enters into the contract to sell a product with the terms that if the customer…

Questions 7 and 8 are grouped. 不計計 31 At the beginning of this year, Mac Allister enters into a contract to sell a product to its customer with the following terms. The unit price is $10; but if the customer purchases more than 1,000 units in one year, the unit price is $9. The customer does not have a right of return. Mac Allister prepares quarterly financial statements. In the first quarter, Mac Allister delivers 150 units to the customer. Mac Allister estimates that it is most likely that the customer will not purchase as much as 1,000 units by the year-end. How much sales revenue should Mac Allister recognize for the first quarter? A. $10,000 B. $9,000 150 к 10 = 1500 ж C. $1,500 D. $1,350

Questions 7 and 8 are grouped. 不計計 31 At the beginning of this year, Mac Allister enters into a contract to sell a product to its customer with the following terms. The unit price is $10; but if the customer purchases more than 1,000 units in one year, the unit price is $9. The customer does not have a right of return. Mac Allister prepares quarterly financial statements. In the first quarter, Mac Allister delivers 150 units to the customer. Mac Allister estimates that it is most likely that the customer will not purchase as much as 1,000 units by the year-end. How much sales revenue should Mac Allister recognize for the first quarter? A. $10,000 B. $9,000 150 к 10 = 1500 ж C. $1,500 D. $1,350

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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