Required information [The following information applies to the questions displayed below] Data Recovery Services (DRS) specializes in data recovery from crashed hard drives. The price charged varies based on the extent of damage and the amount of data being recovered. DRS offers a 20% discount to students and faculty at educational institutions. Consider the following transactions during the month of June. June 10 Rashid's hard drive crashes and he sends it to DRS. June 12 After initial evaluation, DRS e-mails Rashid to let him know that full data recovery will cost $1,200. June 13 Rashid informs DRS that he would like them to recover the data and that he is a student at UCLA, qualifying him for a 20% educational discount and reducing the cost by $240 (= $1,200 x 20%). June 16 DRS performs the work and claims to be successful in recovering all data. DRS asks Rashid to pay within 30 days of today's date, offering a 3% discount for payment within 10 days. June 19 When Rashid receives the hard drive, he notices that DRS did not successfully recover all data. Approximately 25% of the data has not been recovered and he informs DRS. June 20 DRS reduces the amount Rashid owes by 25%. June 30 Rashid pays the amount owed. 3. Calculate net revenues if Rashid had paid his bill on June 25. (Round your answer to 2 decimal places.) Net service revenues
Required information [The following information applies to the questions displayed below] Data Recovery Services (DRS) specializes in data recovery from crashed hard drives. The price charged varies based on the extent of damage and the amount of data being recovered. DRS offers a 20% discount to students and faculty at educational institutions. Consider the following transactions during the month of June. June 10 Rashid's hard drive crashes and he sends it to DRS. June 12 After initial evaluation, DRS e-mails Rashid to let him know that full data recovery will cost $1,200. June 13 Rashid informs DRS that he would like them to recover the data and that he is a student at UCLA, qualifying him for a 20% educational discount and reducing the cost by $240 (= $1,200 x 20%). June 16 DRS performs the work and claims to be successful in recovering all data. DRS asks Rashid to pay within 30 days of today's date, offering a 3% discount for payment within 10 days. June 19 When Rashid receives the hard drive, he notices that DRS did not successfully recover all data. Approximately 25% of the data has not been recovered and he informs DRS. June 20 DRS reduces the amount Rashid owes by 25%. June 30 Rashid pays the amount owed. 3. Calculate net revenues if Rashid had paid his bill on June 25. (Round your answer to 2 decimal places.) Net service revenues
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter17: Advanced Issues In Revenue Recognition
Section: Chapter Questions
Problem 18E: On December 1, 2019, AwakcAllNight Inc. sells 5,000 super caffeinated candy bars to Campus Grocers....
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![Required information
[The following information applies to the questions displayed below]
Data Recovery Services (DRS) specializes in data recovery from crashed hard drives. The price charged varies based on
the extent of damage and the amount of data being recovered. DRS offers a 20% discount to students and faculty at
educational institutions. Consider the following transactions during the month of June.
June 10 Rashid's hard drive crashes and he sends it to DRS.
June 12 After initial evaluation, DRS e-mails Rashid to let him know that full data recovery will cost $1,200.
June 13 Rashid informs DRS that he would like them to recover the data and that he is a student at UCLA, qualifying him
for a 20% educational discount and reducing the cost by $240 (= $1,200 x 20%).
June 16 DRS performs the work and claims to be successful in recovering all data. DRS asks Rashid to pay within 30 days
of today's date, offering a 3% discount for payment within 10 days.
June 19 When Rashid receives the hard drive, he notices that DRS did not successfully recover all data. Approximately
25% of the data has not been recovered and he informs DRS.
June 20 DRS reduces the amount Rashid owes by 25%,
June 30 Rashid pays the amount owed.
3. Calculate net revenues if Rashid had paid his bill on June 25. (Round your answer to 2 decimal places.)
Net service revenues](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fefa12681-d13a-4370-bcf2-fcad87cb5edc%2F84190875-1a5c-4522-9a4e-24c0ad11a569%2Fm4evtn1j_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below]
Data Recovery Services (DRS) specializes in data recovery from crashed hard drives. The price charged varies based on
the extent of damage and the amount of data being recovered. DRS offers a 20% discount to students and faculty at
educational institutions. Consider the following transactions during the month of June.
June 10 Rashid's hard drive crashes and he sends it to DRS.
June 12 After initial evaluation, DRS e-mails Rashid to let him know that full data recovery will cost $1,200.
June 13 Rashid informs DRS that he would like them to recover the data and that he is a student at UCLA, qualifying him
for a 20% educational discount and reducing the cost by $240 (= $1,200 x 20%).
June 16 DRS performs the work and claims to be successful in recovering all data. DRS asks Rashid to pay within 30 days
of today's date, offering a 3% discount for payment within 10 days.
June 19 When Rashid receives the hard drive, he notices that DRS did not successfully recover all data. Approximately
25% of the data has not been recovered and he informs DRS.
June 20 DRS reduces the amount Rashid owes by 25%,
June 30 Rashid pays the amount owed.
3. Calculate net revenues if Rashid had paid his bill on June 25. (Round your answer to 2 decimal places.)
Net service revenues
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