Which accounting principle is applied, Accounting Basics

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Which accounting principle is applied

A company sold merchandise of $2,000 to a customer on December 12, 2009. The company's sales terms require the customer to pay the company by January 28, 2010. The company's income statement reported the sale in December 2009. This is proper under which accounting principle?

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Accounting Basics: Which accounting principle is applied

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Accounting Basics: Which accounting principle is applied

Reference No:- TGS065810

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : What is required journal entry as result of this litigation

Q : Her ex-husband wishes to uphold june''s decision

Q : Explain methods of encouraging growth for typical company

Q : What is the estimated cost of the lost inventory

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Which accounting principle is applied

Reference No:- TGS065810

Recent Questions Asked Accounting Basics

Q : What is required journal entry as result of this litigation

Q : Her ex-husband wishes to uphold june''s decision

Q : Explain methods of encouraging growth for typical company

Q : What is the estimated cost of the lost inventory

Q : Which accounting principle is applied

Q : Estimate the cost formula for truck operating costs

Q : Factors affecting decision implementation

Q : How bluestar total costs fall by adding more aircraft fleet

Q : What will the size of the budget be after ten years

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