Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.

QUESTION

Help Please Consider each of the following scenarios for Bunsen Suppliers Company: The common practice of Bunsen Suppliers is to obtain a written...

The common practice of Bunsen Suppliers is to obtain a written sales agreement. When an Anson Store called on the phone with an urgent need, however, Bunsen orally agreed to deliver goods in exchange for $6,000, then immediately delivered these goods to Anson without a written agreement.

   Bunsen Suppliers has a written agreement to deliver goods to Comfort Inc. for $110 per unit. The price will drop to $95 per unit for all units if Comfort purchases more than 1,000 units per month.    Bunsen Suppliers has a written agreement with Darwin Company to deliver 800 units of product each Saturday Afternoon. Darwin can alter the quantity or cancel a delivery any time before noon Saturday. Required: Determine if a contract exists for each of these scenarios and comment on revenue recognition issues. 
Show more
LEARN MORE EFFECTIVELY AND GET BETTER GRADES!
Ask a Question