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How much revenue should the firm recognize in month of march

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Point 1: Howie, Price, and Liu operate an accounting firm. In March, their staff worked a total of 1,180 hours at an average billing rate of $280 per hour. They sent bills to clients in the month of March that totalled $230,400. They expect to bill the balance of their time in April. The firm's salary costs total $99,120 each month.

Question 1: How much revenue should the firm recognize in the month of March assuming the firm uses the earnings approach to revenue recognition? How much salaries expense should it recognize?

Reference no: EM132473672

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