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Suzie Yang runs a catering business. She received a booking for a birthday function on 1 January and accepted a $500 deposit. Susie catered for

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Suzie Yang runs a catering business. She received a booking for a birthday function on 1 January and accepted a $500 deposit. Susie catered for the birthday function on 28 January for a total fee of $2,000, and received the balance of the amount on 16 February Required (a) What is the revenue for January? (b) Explain the basis of accounting for the revenue for January and why this is preferred Paragraph BIELE

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