Consider the Following Events for Sophia Incorporated:
April 5 $\quad$

question 47

Multiple Choice

Consider the following events for Sophia Incorporated:
April 5 $\quad$ Sophia purchases volleyballs for $\$ 200$ on account.
April 6 $\quad$ Sophia advertises a sand volleyball camp for $\$ 20$ a person.
April 12 $\quad$ Thirty people sign up for the camp paying a total of $\$ 600$ .
April 21 $\quad$ Sophia hosts the sand volleyball camp.
April 23 $\quad$ Sophia pays for the volleyballs purchased on April 5.
Under cash-basis accounting,what is the appropriate day to record the expenses related to the sand volleyball camp?

• A)April 5.
• B)April 12.
• C)April 21.
• D)April 23.

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Definitions:

Mixed Numbers

Numbers consisting of an integer and a fraction.

Lowest Terms

The simplest form of a fraction, where the numerator and the denominator are reduced to their smallest possible values.

Mixed Numbers

Quantities that combine a whole number with a fraction less than one.

Lowest Terms

The simplest form of a fraction, with both the numerator and denominator reduced to their smallest possible numbers.