Mark-Wall Corp

Multiple Choice

Mark-Wall Corp.'s trademark was licensed to Rodgers Inc.for royalties of 12% of sales of the trademarked items.Royalties are payable semi-annually on March 15 for sales in July through December of the previous year, and on September 15 for sales in January through June of the same year.Mark-Wall received the following royalties from Rodgers: Rodgers estimates that sales of the trademarked items would total $67,000 for July through December 2018.On their statement of comprehensive income for calendar 2018, Mark-Wall's royalty revenue should be

A) $8,040.
B) $14,000.
C) $14,040.
D) $21,000.