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Find what date was the revenue earned

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Momentous Occasions is a photography business that rents photo booths for parties. A group paid $1,000 in advance on March 3 to guarantee services for its party to be held April 2. The total cost of the event was to be? $2,500. On April 28, the balance of $1,500 was paid.

Answer the following questions about the correct application of the revenue recognition criteria.

Question a Is the $1,000 reported as revenue on March 3

Question b. On what date was the revenue earned

Question c. Is the $1,500 reported as revenue on April 28

Reference no: EM132687932

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