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What revenue if should be disclosed under accrual method

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Reference no: EM132864638

Saville Road Tailors Pty Ltd receives $6 000 for made-to-measure suits on 1st January. The construction of the suit consists of 6 stages and the work is distributed evenly across these stages. By the end of March, the first three stages have been completed.

Problem 1: What revenue if any should be disclosed under the accrual method and the cash method?

Group of answer choices

Option 1: Accrual method $3,000; Cash method $6,000

Option 2: Accrual method $0; Cash method $3,000

Option 3: Accrual method $3,000; Cash method $3,000

Option 4: Accrual method $6,000; Cash method $3,000

Reference no: EM132864638

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