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bing Company received a phone call from a customer nee e visit for November 7. On November 7, the company insta ded the service). On December 10, the customer paid for t which date should the company record service revenue?

bing Company received a phone call from a customer nee e visit for November 7. On November 7, the company insta ded the service). On December 10, the customer paid for t which date should the company record service revenue?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On November 5, Auburn Plumbing Company received a phone call from a customer needing a new hot water heater, and scheduled a service visit for November 7. On November 7, the company installed the new hot water heater for the customer (provided the service). On December 10, the customer paid for the service. Under the accrual-basis of accounting, on which date should the company record service revenue? Multiple Choice Evenly over the three dates December 10 O November 7 November 5
Transcribed Image Text:On November 5, Auburn Plumbing Company received a phone call from a customer needing a new hot water heater, and scheduled a service visit for November 7. On November 7, the company installed the new hot water heater for the customer (provided the service). On December 10, the customer paid for the service. Under the accrual-basis of accounting, on which date should the company record service revenue? Multiple Choice Evenly over the three dates December 10 O November 7 November 5
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