Indicate which of the following transactions involve the immediate recognition of revenue under the accrual basis of

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Indicate which of the following transactions involve the immediate recognition of revenue under the accrual basis of accounting:

a The delivery of an issue of a magazine to subscribers.

b The sale of an automobile by an automobile agency.

c A collection of cash from accounts receivable debtors.

d The borrowing of money at a bank.

e The sale of merchandise on account.

f The collection of cash by a barber for a haircut.

g The rendering of dry-cleaning services on account.

h The issue of shares of preferred stock.

i The sale of tickets by a symphony box office for a concert to be given in 2 weeks.

j Same as part i, except that sale was made by Ticketron, a ticket broker.

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Financial Accounting An Introduction To Concepts Methods And Uses

ISBN: 9780030452963

2nd Edition

Authors: Sidney Davidson, Roman L. Weil, Clyde P. Stickney

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