Meswell Corp.'s trademark was licensed to McCall Co.for royalties of 12 percent of sales of the trademarked items.Royalties are payable semi-annually on March 15 for sales in July through December of the prior year, and on September 15 for sales in January through June of the same year.Meswell received the following royalties from McCall: McCall estimated that sales of the trademarked items would total $75,000 for July through December 2010.In Meswell's 2010 income statement, the royalty revenue should be

Question

Meswell Corp.'s trademark was licensed to McCall Co.for royalties of 12 percent of sales of the trademarked items.Royalties are payable semi-annually on March 15 for sales in July through December of the prior year, and on September 15 for sales in January through June of the same year.Meswell received the following royalties from McCall:  McCall estimated that sales of the trademarked items would total $75,000 for July through December 2010.In Meswell's 2010 income statement, the royalty revenue should be

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The Answer of Meswell Corp.'s trademark was licensed to McCall Co.for royalties of 12 percent of sales of the trademarked items.Royalties are payable semi-annually on March 15 for sales in July through December of the prior year, and on September 15 for sales in January through June of the same year.Meswell received the following royalties from McCall:  McCall estimated that sales of the trademarked items would total $75,000 for July through December 2010.In Meswell's 2010 income statement, the royalty revenue should be