Question
On June 23, 2008 Mikhal Cosmetics sold $250,000 worth of its products to Rynex Corporation with the payment to be made in 90 days on
On June 23, 2008 Mikhal Cosmetics sold $250,000 worth of its products to Rynex Corporation with the payment to be made in 90 days on September 20. The goods were shipped to Rynex on July 2. The firm's accountants should recognize the sale on what date?
a. June 23, 2008
b. July 2, 2008
c. September 20, 2008
d. none of the above
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Applied Financial Macroeconomics And Investment Strategy
Authors: Robert T McGee
1st Edition
1137428394, 978-1137428394
