An auto repair shop makes a repair for $1,800 on November 30. The customer is sent a statement on December 5 and a check is received on December 10. The shop follows GAAP and applies the revenue recognition principle. When is the $1,800 considered to be recognized? O November 30. O December 5. O December 1.

An auto repair shop makes a repair for $1,800 on November 30. The customer is sent a statement on December 5 and a check is received on December 10. The shop follows GAAP and applies the revenue recognition principle. When is the $1,800 considered to be recognized? O November 30. O December 5. O December 1.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 9RE: Refer to RE6-8. On April 23, 2020, McKinncy Co. receives a check, from Mangold Corporation for...

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