The distinction between a revenue and an inflow of c __ is treated much the same way

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The distinction between a revenue and an inflow of c __ is treated much the same way as it would be in a corporation. If services are provided in 2012 but are not paid until 2013, the revenue is recognized in [2012 / 2013] in keeping with the realization concept. When this happens, the account called a r is debited in 2012 with the accompanying credit to sales revenue.

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Essentials Of Accounting

ISBN: 9780273771463

11th International Edition

Authors: Leslie K. Breitner

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