Turner Company collected $6,500 in September of 2011 for 5 months of service which would take place from October of 2011 through February of 2012.The revenue reported from this transaction during 2011 would be

Question

Quizplus · Accepted Answer

The revenue for 2011 would be for the months of October, November, and December, which is 3 months. The monthly revenue is $6,500/5 = $1,300. Therefore, for 3 months, the revenue is $1,300 * 3 = $3,900.

Turner Company Collected $6,500 in September of 2011 for 5