Question
Sam's Coffeehouse made the following entry when it sold a latte to a customer today in exchange for cash. Dr. Cash 5 Cr. Sales Revenue
Sam's Coffeehouse made the following entry when it sold a latte to a customer today in exchange for cash.
| Dr. Cash |
| 5 |
|
| Cr. Sales Revenue |
|
| 5 |
Based on this entry do you think Sam's records revenue on the cash or accrual basis?
Cash
Accrual
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The Essential Handbook Of Internal Auditing
Authors: K. H. Spencer Pickett
1st Edition
0470013168, 978-0470013168
