On June 1st, Lucy & Bros received an order for 500 cupcakes. Lucy delivered the cupcakes to the client on June 25th. A $50 deposit was received on June 5th and the remaining $450 was paid on June 30th. Lucy likely would recognize revenue on: A:June 2ndB:June 30thC:June 25thD:June 5thE: June 1st

On June 1st, Lucy & Bros received an order for 500 cupcakes. Lucy delivered the cupcakes to the client on June 25th. A $50 deposit was received on June 5th and the remaining $450 was paid on June 30th. Lucy likely would recognize revenue on: A:June 2ndB:June 30thC:June 25thD:June 5thE: June 1st

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter18: Acquiring Capital For Growth And Development

Section: Chapter Questions

Problem 1AP

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Question

On June 1^st, Lucy & Bros received an order for 500 cupcakes. Lucy delivered the cupcakes to the client on June 25^th. A $50 deposit was received on June 5^th and the remaining $450 was paid on June 30^th. Lucy likely would recognize revenue on:

A:June 2nd
B:June 30th
C:June 25th
D:June 5th
E: June 1st

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