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Revenue that is earned but not collectible should not be recorded as revenue in the financial statements. This is in accordance with the revenue recognition
Revenue that is earned but not collectible should not be recorded as revenue in the financial statements. This is in accordance with the revenue recognition principle, which dictates that revenue should only be recognized when it is earned and collectibility is reasonably assured
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
22nd Edition
324401841, 978-0-324-6250, 0-324-62509-X, 978-0324401844
