If XYZ Consulting performs a consulting service and bills the customer on June 28 and receives payment
Question:
If XYZ Consulting performs a consulting service and bills the customer on June 28 and receives payment from the customer on July 19, on what date would revenue be recorded if
a. XYZ uses the cash basis of accounting?
b. XYZ uses the accrual basis of accounting?
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Saud Ur Rehman
Evaluating manufacturing processes by designing and conducting research programs; applying knowledge of product design, fabrication, assembly, tooling, and materials; conferring with equipment vendors; soliciting observations from operators. Developing manufacturing processes by studying product requirements; researching, designing, modifying, and testing manufacturing methods and equipment; conferring with equipment vendors. Keeping equipment operational by coordinating maintenance and repair services; following manufacturer's instructions and established procedures; requesting special service.
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Related Book For 
Financial Accounting
ISBN: 9781292019543
3rd Global Edition Edition
Authors: Robert Kemp, Jeffrey Waybright, Pearson Education
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