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On Time Computer Repair uses accrual basis accounting.A computer was repaired on July 15.The customer picked up the computer on August 1 and mailed the payment on August 5.On Time Computer Repair received the check in the mail on August 10.The revenue should be recognized on which date?
Statement Of Cash Flows
A financial report that provides aggregate data regarding all cash inflows a company receives from its ongoing operations, financial investments, and external financing, as well as all cash outflows that pay for business activities and investments during a given period.
Accounts Receivable
Money owed to a company by its customers for goods or services delivered but not yet paid for.
Inventory
Goods and materials that a business holds for the ultimate goal of resale, production, or utilization in manufacturing.
Net Cash
The difference between cash inflows and outflows within a given period.
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