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Posted: May 1st, 2024
In the Month of March, Chester received orders of 101 units
In the Month of March, Chester received orders of 101 units at a price of $15.00 for their product Crimp. Chester uses the accrual method of accounting and offers 30 day credit terms. Chester delivers 101 units in April. They received payment for 51 units in March, and 51 units in April. In the March income statement, how much revenue is recognized on the March income statement from this order? How much in the April Income statement? (Answer in thousands)
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