How to follow the revenue recognition principle, Accounting Basics

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How to follow the revenue recognition principle

Ron's Hot Rod shop follow the revenue recognition principle. Ron services a car on July 31. The customer picks up the vehicle on August 1 and mails the payment to Ron on August 5. Ron receives the check in the mail on August 6. When should Ron show that the revenue was earned?

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Accounting Basics: How to follow the revenue recognition principle

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Ron's Hot Rod shop follow the revenue recognition principle. Ron services a car on July 31. The customer picks up the vehicle on August 1 and mails the payment to Ron on August.

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Accounting Basics: How to follow the revenue recognition principle

Reference No:- TGS0688298

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Recent Questions Asked Accounting Basics

Q : Define converted to uo2 and nitric oxide(no) gas is produced

Q : Determining the desired margin of error

Q : Discuss the acquisition cost of a piece of equipment

Q : Explain the compound was dissolved in water

Q : How to follow the revenue recognition principle

Q : Determine the potential at the center of the sphere

Q : What is the amount of the gain or loss on disposal

Q : Explain the value of which concentration unit for a solution

Q : Explain standardized with potassium acid phthalate

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How to follow the revenue recognition principle

Reference No:- TGS0688298

Recent Questions Asked Accounting Basics

Q : Define converted to uo2 and nitric oxide(no) gas is produced

Q : Determining the desired margin of error

Q : Discuss the acquisition cost of a piece of equipment

Q : Explain the compound was dissolved in water

Q : How to follow the revenue recognition principle

Q : Determine the potential at the center of the sphere

Q : What is the amount of the gain or loss on disposal

Q : Explain the value of which concentration unit for a solution

Q : Explain standardized with potassium acid phthalate

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