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On the basis when can cecily cedric recognise revenue

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Reference no: EM132932448

Problem 1: Cecily Cedric is a toy manufacturer producing toys that are shipped to various retail customers upon receipt of their purchase orders. Sales are billed after shipment. The company estimates that approximately 2 per cent of credit sales prove to be uncollectable. Consider if Cecily Cedric quaranteed delivery of toys to customers and where any undelivered toys are refunded, or new replacement toys are sent. On this basis when can Cecily Cedric recognise revenue?

A. On production
B. On receipt of cash from customers
C. After the warranty date has past
D. On shipment
E. On delivery

 

Reference no: EM132932448

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