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Problem regarding the realization principle

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Reference no: EM131066638

Realization Principle

Sky Bound Airlines has provided the following information regarding cash received for ticket sales in September and October:

Cash received in September for October flights

$1,700,000

Cash received in October for October flights

1,300,000

Cash received in October for November flights

1,800,000

Apply the realization principle to determine how much revenue Sky Bound Airlines should report in its October income statement.

Reference no: EM131066638

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