On Time Computer Repair Uses Accrual Basis Accounting

question 208

Multiple Choice

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?

• A)July 15
• B)August 1
• C)August 5
• D)August 10

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