CAR WASH KING recently started a promotion by selling a car wash pass to their customers. The three-month pass for unlimited car wash costs P600. The company estimates that their customers wash their cars equally throughout the three=month period. On December, the first batch of customers purchased P12,000 worth of the three-month passes. The purchases of the passes occurred evenly throughout December. What is the amount of sales revenue to be recognized in December?

CAR WASH KING recently started a promotion by selling a car wash pass to their customers. The three-month pass for unlimited car wash costs P600. The company estimates that their customers wash their cars equally throughout the three=month period. On December, the first batch of customers purchased P12,000 worth of the three-month passes. The purchases of the passes occurred evenly throughout December. What is the amount of sales revenue to be recognized in December?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 4Q: American Signs allows customers to pay with their Jones credit card and cash. Jones charges American...

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