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Kaidan Inc. is a Japanese firm located in Osaka. The firm makes a large sale for JPY 1,200,000 on November 30. The buyer is sent

Kaidan Inc. is a Japanese firm located in Osaka. The firm makes a large sale for JPY 1,200,000 on November 30. The buyer is sent a statement on December 5. Then, the firm receives a check (for the payment) on December 10. According to the GAAP and the revenue recognition principle, determine when the JPY 1,200,000 is considered to be recognized!

a. December 5.

b. December 10.

c. November 30.

d. December 1.

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