The Following Information Pertains to Sooner Company: Assuming That Sooner

question 69

Multiple Choice

The following information pertains to Sooner Company: Assuming that Sooner Company uses cash-basis accounting,when would the company record the expense related to the supplies?
$$\begin{array} { | l | l | } \hline \text { May } 1 & \text { Customer ordered an installation service to be done by Sooner Company on May } 15 . \\\hline \text { May } 2 & \text { Customer paid cash tor the installation job to be done on May } 15 . \\\hline \text { May } 8 & \text { The Sooner Company purchased installation supplies on account tor the job. } \\\hline \text { May } 15 & \text { The installation job was started and completed. } \\\hline \text { May } 20 & \text { Amount owed for supplies purchased on May } 8 \text { is paid. } \\\hline\end{array}$$

• A)May 2.
• B)May 8.
• C)May 15.
• D)May 20.

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Definitions:

Sedimentary Rocks

Rocks formed from the accumulation and consolidation of sediment, typically found in layers, including sandstone, limestone, and shale.

Denver Region

A geographic area in the United States known for its high elevation, situated near the Rocky Mountains.

Lithified

The process through which sediment consolidates into solid rock, typically through compaction and cementation.

Photograph

An image created by capturing light on a light-sensitive surface, typically through a camera, representing a visual moment in time.