(Solved): a. Byrde Company purchased a truck. The seller asked for \( \$ 12,000 \), but Byrde paid only \( ...

a. Byrde Company purchased a truck. The seller asked for \( \$ 12,000 \), but Byrde paid only \( \$ 11,000 \) after negotiation. The owner of Byrde Company believes he got a great deal and the truck is really worth \( \$ 16,000 \). What amount does Byrde record on its financial statements for the truck? b. Snell Company performs services for a client in May and bills the client \( \$ 2,000 \). In June, Snell receives a partial payment of \( \$ 800 \) cash. In July, the remaining \( \$ 1,200 \) cash is received. Determine the monthly revenue recorded in May, June, and July applying revenue recognition principle. Complete this question by entering your answers in the tabs below. Byrde Company purchased a truck. The seller asked for \( \$ 12,000 \), but Byrde paid only \( \$ 11,000 \) after negotiation. The owner of Byrde Company believes he got a great deal and the truck is really worth \( \$ 16,000 \). What amount does Byrde record on its financial statements for the truck? a. Byrde Company purchased a truck. The seller asked for \( \$ 12,000 \), but Byrde paid only \( \$ 11,000 \) after negotiation. The owner of Byrde Company believes he got a great deal and the truck is really worth \( \$ 16,000 \). What amount does Byrde record on its financial statements for the truck? b. Snell Company performs services for a client in May and bills the client \( \$ 2,000 \). In June, Snell receives a partial payment of \( \$ 800 \) cash. In July, the remaining \( \$ 1,200 \) cash is received. Determine the monthly revenue recorded in May, June, and July applying revenue recognition principle. Complete this question by entering your answers in the tabs below. Snell Company performs services for a client in May and bills the client \( \$ 2,000 \). In June, Snell receives a partial payment of \( \$ 800 \) cash. In July, the remaining \( \$ 1,200 \) cash is received. Determine the monthly revenue recorded in May, June, and July applying revenue recognition principle. (Leave no cells blank - be certain to enter "0" wherever required.)