Ashley Garrett operates a flight training school. On occasion, she will provide introductory flight simulator...

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Accounting

Ashley Garrett operates a flight training school. On occasion, she will provide introductory flight simulator sessions. This month she performed introductory sessions and received $2,500. The sessions are paid for at the time they are delivered.
Determine the amount of revenue to be recognized in the current period.
$Answer 1
Determine the missing amount in each of the following cases:
Stockholders'
Assets Liabilities Equity
$120,000 $73,600 Answer 1
Answer 2
16,80033,600
69,600 Answer 3
48,800

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