A college student walks into a store on campus and orders a large cup of...
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Accounting
A college student walks into a store on campus and orders a large cup of black coffee and a croissant for $7. The stand alone prices are $5 for coffee and $2 for the croissant. The coffee shop is out of croissants so they give the student a coupon to get 2 croissants at a later date. The coffee shop sells coupons for two croissants for $3.50 each. The coupons are good for 3 months. What amount of revenue is recognized when the coffee is delivered?
Select one:
a. $5
b. $4.50
c. $4.12
d. $7
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