Question
he following information pertains to Sooner Company: May 1 Customer ordered an installation service to be done by Sooner Company on May 15. May 2
he following information pertains to Sooner Company:
May 1 Customer ordered an installation service to be done by Sooner Company on May 15. May 2 Customer paid cash for the installation job to be done on May 15. May 8 The Sooner Company purchased installation supplies on account for the job. May 15 The installation job was started and completed. May 20 Amount owed for supplies purchased on May 8 is paid. Assuming that Sooner Company uses accrual-basis accounting, when would the company record the expense related to the supplies?
Multiple Choice
- May 15.
- May 8.
- May 2.
- May 20.
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Accounting Information Systems The Crossroads Of Accounting And IT
Authors: Donna Ulmer, Donna Kay, Ali Olia
1st Edition
0132132524, 9780132132527
