Chapter 8, Problem 3DQ

I need guidance with this general accounting problem using the right accounting principles.

Which principle requires expenses to be recorded in the same period as the revenues they help generate? A) Cost PrincipleB) Matching PrincipleC) Revenue Recognition PrincipleD) Full Disclosure Principle

Northfield Appliances reported annual sales revenue of $2,750,000. During the year, accounts receivable increased from a $78,000 beginning balance to a $93,000 ending balance. Accounts payable increased from a $62,000 beginning balance to a $89,000 ending balance. How much is cash received from customers for the year? A. $3,130,000 B. $3,135,000 C. $2,735,000 D. $3,100,000 Right answer