On May 15 RAJ Inc

Multiple Choice

On May 15 RAJ Inc. received prepayment of $132,000 representing the total amount to cover a purchase order requiring delivery of the custom blended product in four equal monthly shipments. The first shipment was scheduled for June 23. RAJ Inc.'s income statement showed

A) The full amount on the September statement
B) The full amount on the May statement
C) The full amount on the June statement
D) $33,000 on the May statement
E) $33,000 on the June statement