21. MC.04-071 On October 31, Michael Corporation signed a one-year contract to provide services to Love Company for $80,000 throughout the next year. Love will pay for the services on November 1. Using the accrual basis of accounting, when should Michael Corporation recognize revenue? O a. November 1 of the current year when the cash is received from Love O b. Throughout the year as the revenue is earned O c. On October 31 of the next year when all services have been provided O d. At December 31 of the current year and October 31 of the next year