On october 1 20x1 acme fuel co sold 100000 gallons of, Financial Accounting

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On october 1 20x1 acme fuel co sold 100000 gallons of

On October 1, 20X1, Acme Fuel Co. sold 100,000 gallons of heating oil to Karn Co. at $3 per gallon. Fifty thousand gallons were delivered on December 15, 20X1, and the remaining 50,000 gallons were delivered on January 15, 20X2. Payment terms were: 50% due on October 1, 20X1, 25% due on first delivery, and the remaining 25% due on second delivery. What amount of revenue should Acme recognize from this sale during 20X1?

a. $75,000

b. $225,000

c. $150,000

d. $300,000

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Financial Accounting: On october 1 20x1 acme fuel co sold 100000 gallons of

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Financial Accounting: On october 1 20x1 acme fuel co sold 100000 gallons of

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