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b] Rhonda receives a large order for a function to be held on 25 June 20x1. The work was performed on the day and client
b] Rhonda receives a large order for a function to be held on 25 June 20x1. The work was performed on the day and client was issued with a Tax Invoice on 27 June 20x1, payable in 14 days. Rhonda wants to record the income in July 20x1, when the money will be received. Rhonda's bookkeeper advises her that according to accounting practice income needs to be recorded in June 20X1 when the work was performed. Your answer should be between 20 and 30 words "E Accounting Principle/Convention: | What is the correct date to record the income? Explain your answer by including the key _principles of the Principle/Convention | 'i J | |
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