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The product and services were delivered September30th and invoice will be issued October 30th. The payment from the customer won't be received until November 30th.
The product and services were delivered September30th and invoice will be issued October 30th. The payment from the customer won't be received until November 30th. The contract states that the title passes onto the customer upon full payment.
Under IFS, would revenue be recognized in September, October, or November using the
completed contract method?
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Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
23rd Edition
978-0324662962
