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The customer paid the company in advance on June 20 for services to be provided later. The company provided the services on June 27.
The customer paid the company in advance on June 20 for services to be provided later. The company provided the services on June 27. On June 30 the company mailed a thank you note to the customer. Which day should revenue be recognized for accrual basis and for cash basis? Accrual basis Cash basis June 201 June 30
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
6th edition
1259864235, 1259864230, 1260159547, 126015954X, 978-1259864230
