3 of 15 Mr. Lincoln has his own CPA firm. A client sends him the following email: Dear Mr. Lincoln, As you know, I am a plumber. On October 29th I received a phone call from a customer asking me to do some plumbing for their house that is being remodeled. We agreed that I would meet them and provide plumbing services for them on November 20th. I provided the services on November 20th, but they were unable to pay me that day. I gave them an invoice for $350. Today, December 5th, I received their $350 check as payment. When am I able to recognize the $350 in revenue? Thank you! Sam Smith Based on the Revenue Recognition Principle, when should Mr. Lincoln tell Sam to recognize revenue? October 29th November 20th December 5th O When Sam cashes the $350 check