9) Nicholson Company had the following transactions during 2017:

Sales of $4,800 on account

Received $2,000 cash for services to be performed in 2018

Paid $1,625 cash in salaries

Purchased airline tickets for $250 in December, 2017 for a trip to take place in 2018

What is Nicholsons 2017 net income using accrual accounting?

a.	$2,925.
b.	$3,175.
c.	$4,925.
d.	$5,175.

10) Lane & Lenge Florists in West Hartford makes a large sale for $1,200 on November 30.

The shops chief accountant, Ashley Doris Wilson (Hall High 2007) sends an invoice that day. The customer receives the invoice on December 1. Lane & Lenge receives a check for $1,200 on December 10. The flower shop follows GAAP and applies the revenue recognition principle. When is the $1,200 considered to be recognized as revenue?

a. November 30. b. December 1.

c. December 10. d. December 31.