The Whackem-Smackem Software Company Sold $11 Million of Computer Games

question 26

Multiple Choice

The Whackem-Smackem Software Company sold $11 million of computer games in its first year of operations.The company received payments of $7.5 million for these computer games.The company's income statement would report:

• A)sales revenue of $7.5 million.
• B)accounts receivable of $3.5 million.
• C)expenses of $3.5 million.
• D)sales revenue of $11 million.

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Definitions:

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