Question
A dress shop makes a large sale for $1,000 on November 30. The customer is sent a bill on December 5 and a check is
A dress shop makes a large sale for $1,000 on November 30. The customer is sent a bill on December 5 and a check is received on December 10. The dress shop follows GAAP and applies the revenue recognition principle. When is the $1,000 considered to be revenue? a. December 5 b. December 10 c. November 30 d. December 1
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Accounting The Ultimate Guide To Accounting For Beginners
Authors: Greg Shields
1st Edition
1546332820, 978-1546332824
