On January 1,2015,a customer places an order for a new vehicle built especially for the customer.The contract price is $22,000.The vehicle is delivered to the dealer and customer on April 1,2015.What amount of revenue does the dealer record on January 1,2015 and April 1,2015?

Question

Quizplus · Accepted Answer

The dealer should not record any revenue on January 1, 2015, as the vehicle has not been delivered to the customer yet. The revenue should be recorded on April 1, 2015, when the vehicle is delivered to the customer, and the contract price of $22,000 is earned. Therefore, the correct answer is D: $0; $22,000.

On January 1,2015,a Customer Places an Order for a New