Solution-Prepare a record the revenue and reduction from

Prepare a record the revenue and reduction from inventory

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Reference no: EM132487803

Presented here are the components in Bradley Company's income statement for 2017 and 2018.

Determine the missing amounts.

Sales Cost of Gross Operating Net

Revenue Goods Sold _Profit Expenses Income

FY 2017 $76,000 (a) $34,000 b) $16,500

FY 2018 (c) $86,000 $53,500 $48,000 (d)

Question 1: During the weekend of Sept. 25-27, 2015, Apple sold 13 million iPhone 6S and iPhone 6S Plus phones. Each phone had been accounted for in Apple's inventory at their manufacturing cost of $349 and were sold for $649. Assuming that all 13 million phones were sold for cash, please write the two journal entries needed to record the revenue and reduction from inventory for the sale of all 13 million units

Reference no: EM132487803

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Prepare a record the revenue and reduction from inventory

Reference no: EM132487803

Reference no: EM132487803

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