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Wong's Tune-Up Shop Limited services a car on May 31. The customer pays over the phone on June 1 and picks up the car
Wong's Tune-Up Shop Limited services a car on May 31. The customer pays over the phone on June 1 and picks up the car on June 2. When would Wong recognize the revenue as being earned under the cash basis and accrual basis of accounting? Cash: May 31; Accrual: June 2 Cash: June 1; Accrual: May 31 Cash: June 1: Accrual: June 1 Cash: June 2; Accrual: May 31 13
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Core concepts of accounting information systems
Authors: Jacob M. Rose, Mark G. Simkin, Carolyn Strand Norman
13th edition
978-1-119-0332, 1118742931, 978-1118742938
