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Business, 17.10.2020 20:01 ryleigh1780

Bird Corp.'s trademark was licensed to Brian Co. for royalties of 15% of the sales of the trademarked items. Royalties are payable semiannually on March 15 for sales in July through December of the prior year, and on September 15 for sales in January through June of the same year. Bird received the following royalties from Brian: March 15 September 15
20X4 $5,000 $7,500
20X5 6,000 8,500
Brian estimated that the sales of the trademarked items would total $30,000 for July through December 20X5. In Bird's 20X5 Income Statement, the royalty revenue should be:.
a. $13,000.
b. $14,500.
c. $19,000.
d. $20,500.

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Bird Corp.'s trademark was licensed to Brian Co. for royalties of 15% of the sales of the trademarke...

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