Question
In the month of March the Baldwin Corporation received and delivered orders of 139,000 units at...
In the month of March the Baldwin Corporation received and delivered orders of 139,000 units at a price of $15.00 for revenue of $2.085mil for their product Best. Baldwin uses the accrual method of accounting and offers 30 day credit terms. By the end of May Baldwin had collected payments of $2.085mil for the March deliveries. How much of the collected $2.085mil should Baldwin show on the March 31st income statement and how much on the May 31st income statement?
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