On October 31, Michael Corporation signed a one-year contract to provide services to Love Company for $80,000. Love will pay for the services on November 1. Using the accrual basis of accounting, when should Michael Corporation recognize revenue?

a. November 1 of the current year when the cash is received from Harris

b. On October 31 of the next year when all services have been provided

c. Throughout the year as the revenue is earned

d. At December 31 of the current year, and October 31 of the next year