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cure sjc.cengagenow.com/lm/takeAssignment/takeAssignmentMain do takeAssignmentSession ocaltors assignment-taket Assignment: Chapter 2 Assignment Assignment Score: 58.46 Emall Instructor Questions 2Exercise 2-15 10. Qvestion 12 of 13 Check My Work 13. Exercise 2-15 Application of Recognition Point Affordable Flower Shop, Inc, uses a large amount of supplies in its business. The following table summarizes selected transaction data for supplies that Alfordable purchased: Order Date Recelved Date Shipped une 26 uly 10 uly 16 Amount 600 July 15 July 22 uly 30 Aug. 1 800 1, 200 July 27 Aug. 3 1,000 Determine the total purchases of supplies for July alone under each of the folowing assumpeions 1. Affordable recognizes purchases when orders are shipped Affordable recognizes purchases when orders are recelved. 4100

Solution

1. Total purchases of supplies recorded by Affordable in July will be the orders which are shipped in July.

So, total supplies recorded as July purchase is $5,000 (1,500+800+1,200+1,500)

Order	Date Shipped	Amount
a	Jun-26	600	Recorded as June Purchase
b	Jul-10	1,500	Recorded as July Purchase
c	Jul-16	800	Recorded as July Purchase
d	Jul-23	1,200	Recorded as July Purchase
e	Jul-27	1,500	Recorded as July Purchase
f	Aug-03	1,000	Recorded as August Purchase