Horowitz Paint Shop sold $3,000 of paint to a local construction company for cash on June 25, 2018. Because of a flood in the area, the customer requested that Horowitz not ship the items from its warehouse until July 3, 2018, so Horowitz set aside the paint on June 25, packaged and ready to ship on July 3.
Required:
For the second quarter ending on June 30, how much revenue should Horowitz
recognize for the sale to the local construction company? Explain your answer.

Question

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The Answer of Horowitz Paint Shop sold $3,000 of paint to a local construction company for cash on June 25, 2018. Because of a flood in the area, the customer requested that Horowitz not ship the items from its warehouse until July 3, 2018, so Horowitz set aside the paint on June 25, packaged and ready to ship on July 3.
Required:
For the second quarter ending on June 30, how much revenue should Horowitz
recognize for the sale to the local construction company? Explain your answer.

Horowitz Paint Shop Sold $3,000 of Paint to a Local