Question

Johnson sells $111,000 of product to Robbins, and also purchases $12,200 of advertising services from Robbins. The advertising services have a fair value of $9,100. Johnson should recognize total revenue to account for these events of: rev: 01_03_2020_QC_CS-190391 Multiple Choice $101,900 $98,800 $107,900 $111,000

Answer 1

$107,900

Step-by-step explanation:

Calculation for the amount of total revenue to account for these events

Sale $111,000

Less Difference in advertising fair value $3,100 (12,200-9,100)

Total Revenue $107,900

Therefore the amount of total revenue to account for these events will be $107,900