(Answered) Question - revenue recognition - identify the proper point

Accounting

Question - REVENUE RECOGNITION -

Identify the proper point to recognize revenue for each transaction

(a) Napoleon Industries sells a machine in January with terms of no payment due until six months later

(b) Emma Company collects an advance deposit of $700 in July toward the purchase of a $3,000 piece of equipment that is delivered to the customer the following September.

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