A consulting company provides a $5,000 service to a client on October 30, 2020. The client receives the bill for services rendered and makes a cash payment on November 25, 2020. The consulting company uses the accrual accounting method and will record the $5,000 revenue on which date? A. October 30, 2020 B. November 25, 2020 C. January 1, 2021 D. April 15, 2021

A consulting company provides a $5,000 service to a client on October 30, 2020. The client receives the bill for services rendered and makes a cash payment on November 25, 2020. The consulting company uses the accrual accounting method and will record the $5,000 revenue on which date? A. October 30, 2020 B. November 25, 2020 C. January 1, 2021 D. April 15, 2021

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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