Crane prepares an income statement for the first quarter of 2017, ending on March 31, 2017 (installation was completed on June 18, 2017). How much revenue should Crane recognize related to its sale to Ricard?
Answer:No figures were given from the income statement for 31st March 2017.
Explanation: While the total revenue that crane should recognize as regards to sales to Ricard will be dated for March 31st 2017 because that when financial books were officially closed for the first quarter.
