Sales of pipes.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Do not give answer in image
Transcribed Image Text:Sales of pipes, including services
Delivery date
Invoice date
Date of providing Instal
Pipes
Installation services
Logistics
Pipes
Debit
Credit
Installation Service
Debit
Credit
Sales
Logistics
Debit
Credit
31-Jul
30-Jun
31-Aug
1,000
200
50
1) Revenue recognition, important to provide the date of each posting
Account descript
Cost
500
100
40
Amount
Date
Transcribed Image Text:2) Logistics cost recognition
Debit
Credit
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