Ramos Company ordered 500 toy wagons from Lamar, Inc.on May 1, 2010.Ramos Company paid for them on May 20 at a cost of $2 each.Ramos sold 50 of them on June 2, 2010, for $5 each to Gilloz Company.Gilloz Company paid Ramos on June 10.
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On which date should Ramos Company recognize revenue?
A) May 1
B) May 20
C) June 10
D) June 2
Correct Answer:
Verified
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