The practice of recording revenue in the same period in which expenses were incurred to generate the revenue is referred to as the a. full disclosure principle b. installment method c. matching principle d. revenue recognition principle e. None of the above e principle of conservatism states: a. Do not overstate revenue b. Do not understate revenue and expenses, and do not overstate assets c. Do not overstate assets and revenue, and do not understate expenses d. Do not understate assets and revenue, and do not overstate expenses c. None of the above. s and expenses, and do not understate assets At January 1, 2008, Kobe Enterprises reported accounts receivable totaling S3,500. During the month, the company had credit sales of $5,000 and collected cash on accounts of $6,000. At the end of January, the balance in accounts receivable s: At January 1, 2009, KA Enterprises reported an accounts payable of S5,000. During the month, KA made purchase on account from vendors totaling $7,000. At the end of January, the balance in accounts payable is S8,000. What amount did KA pay vendors during January? At January 1, 2007, Burton Industries reported Retained Earnings of S130,000. During 2007, Burton had a net loss of S30,000 and paid dividends to the stockholders of $20,000. At December 31, 2007, the balance in Retained Earnings is: Fisher Enterprises assets increased from S7,000 to $9,000, and liabilities decreased from S3,000 to S1,500. Assuming no additional owners' equity transactions took place, if expenses totaled $3,000, what was Fisher's revenue for the year