Question
On May 2nd, 2013 a client called Gourment Carter ordered $1,000 for a reception in June. The client stopped by on May 15th and left
On May 2nd, 2013 a client called Gourment Carter ordered $1,000 for a reception in June. The client stopped by on May 15th and left a check of $500 and promised to pay the remaining balance upon the delivery of food to the June reception. Gourmet Carter delivered the food to the reception on June 10, 2013.
Which is right?
a. Gourmet Carter should recognize $500 sales revenue on May 15th
b. Gourmet Carter should recognize $1000 sales revenue on May 2nd
c. Gourmet Carter should reconize $1000 salves revenue on June 10th
d. None of these are correct
Step by Step Solution
3.45 Rating (155 Votes )
There are 3 Steps involved in it
Step: 1
A CLIENT ORDERED 1000 FOR A RECEPTION IN JUNE FOR THAT HE PAID ...
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Business Law Text and Cases
Authors: Kenneth W. Clarkson, Roger LeRoy Miller, Gaylord A. Jentz, F
11th Edition
324655223, 978-0324655223
