In September,a Customer Signed a Contract to Have His House

question 33

Multiple Choice

In September,a customer signed a contract to have his house painted and paid for the job in October.The painting company bought the paint in August on account and paid for it in September.The painting company painted the house in November.Assuming accrual basis accounting is used,the painting company should record the:

• A)revenues in November and the expenses in September.
• B)revenues and the expenses in September.
• C)revenues and the expenses in November.
• D)revenues in September and the expenses in August.

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