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Lara's Cakes Corporation delivered a wedding cake to a customer on December 1 st. The customer was sent an invoice for $1,500 on December 5
Lara's Cakes Corporation delivered a wedding cake to a customer on December 1 st. The customer was sent an invoice for $1,500 on December 5 and payment was received from the customer on December 8 . Using the revenue recognition principle per GAAP, when will the $1,500 be recognized as revenue? November 15 th December 1 st December 5 th December 8 th
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