Multiple Choice
During the past year Ascot Company made credit sales of $450,000, cash sales of $275,000, and collected $50,000 of deposits on future orders.What amount should they report as revenue on their income statement?
A) $275,000
B) $325,000
C) $725,000
D) $775,000
Correct Answer:
Verified
Correct Answer:
Verified
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