Solution-Which sales revenues are usually considered earned

Which sales revenues are usually considered earned when

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Reference no: EM133007440

Problem 1: Sales revenues are usually considered earned when

A) goods have been transferred from the seller to the buyer.

B) adjusting entries are made.

C) an order is received.

D) cash is received from credit sales.

Problem 2: Sales revenue

A) only results from credit sales.

B) may be recorded before cash is collected.

C) is only recorded after cash is collected.

D) will always equal cash collections in a month.

Problem 3: The collection of a P600 account within the 2 percent discount period will result in a

A) debit to Accounts Receivable for P588.

B) debit to Sales Discounts for P12.

C) credit to Accounts Receivable for P588.

D) credit to Cash for P588.

Reference no: EM133007440

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Which sales revenues are usually considered earned when

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Reference no: EM133007440

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