The Ynaffit Corporation engaged in the following transactions with its customers

Question

The Ynaffit Corporation engaged in the following transactions with its customers in May.

May 2: provided services to customers who agreed to pay $16,000 by June 2.

May 11: received $4,700 from customers serviced in April.

May 23: received $3,900 from customers for services to be provided to them in June.

May 28: received $3,600 from customers for services provided to them on May 28.

Determine the company's fees revenue for May.

$19,600

$16,000

$35,600

$39,500

a.

$19,600

b.

$16,000

c.

$35,600

d.

$39,500

Explanation / Answer

Answer a. $19,600

May 2 Provided services to customers who agreed to pay $16000 by June 2. 16,000 May 11 Received $4,700 from customers serviced in April. --- May 23 Received $3,900 from customers for services to be provided to them in June --- May 28 Received $3,600 from customers for services provided to them on May 28. 3,600 Total Company fees revenue for May 19,600

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