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Which sun should normally recognize

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Reference no: EM132776900

Problem 1: Sun Corp. sells merchandise to customers. Sun should normally recognize

a. cash revenue only and the related expenses in the same accounting period as earned whether payment is received or not.

b. revenue when the cash is collected and the expenses when Sun pays its creditor for the merchandise.

c. cash and credit revenue in the same accounting period as earned and the related expenses incurred whether payment is received or not.

d. revenue and expenses after all payments are collected.

Reference no: EM132776900

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