Pacific travels is a travel agency and sells flight tickets, Ask an Expert

Accounting

Pacific Travels is a travel agency and sells flight tickets of reputed Airlines to customers for a commission of 3% of the ticket price. In the month of June 2013, Pacific sold $600,000 flight tickets of American Airlines to customers and incurred administrative and selling expenses of $3,500. What is the amount of revenue Pacific should recognize in the month of June 2013.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M943824

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