If payment is received at the same time a service is produced and sold,there is no difference between how cash and accrual accounting record the transaction.

Name: If payment is received at the same time a service is produced and sold,there is no difference between how cash and accrual accounting record the transaction.
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Question

Quizplus · Accepted Answer

Both cash and accrual accounting would record the transaction as revenue received at the time of the sale.

If Payment Is Received at the Same Time a Service