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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 40
eCatalog Services Company performed services in October for a specific customer for a fee of $7,890. Payment was received the following November.
(a) Was the revenue earned in October or November?
(b) What accounts should be debited and credited in (1) October and (2) November?
(a) Was the revenue earned in October or November?
(b) What accounts should be debited and credited in (1) October and (2) November?
Explanation
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Verified
In accrual accounting (used by most comp...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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