Holmgren Seafoods,Inc.catches and processes salmon and tuna caught off the coast of Maine.In May 2016,it placed 100 freshly caught wild salmon with a retail price of $75 each in Joe's Fish Shop.Holmgren's contract with the shop stipulates that the shop will earn a 15% commission on each salmon sold.Joe's is responsible for purchasing any fish that remain unsold at the end of a three-day period. Required: During the three-day period,Joe's Fish Shop was able to sell 88 of the 100 salmon.How much revenue should Holmgren recognize with respect to this transaction?

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The Answer of Holmgren Seafoods,Inc.catches and processes salmon and tuna caught off the coast of Maine.In May 2016,it placed 100 freshly caught wild salmon with a retail price of $75 each in Joe's Fish Shop.Holmgren's contract with the shop stipulates that the shop will earn a 15% commission on each salmon sold.Joe's is responsible for purchasing any fish that remain unsold at the end of a three-day period. Required: During the three-day period,Joe's Fish Shop was able to sell 88 of the 100 salmon.How much revenue should Holmgren recognize with respect to this transaction?