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Revenue Recognition

Volume Electronics sold a television to Sarah Merrifield on December 15, 2013. Sarah paid $100 at the time of the purchase and agreed to pay $100 each month for 5 months beginning January 15, 2014.

Required:

Determine in what month or months revenue from this sale should be recorded by Volume Electronics to ensure proper application of accrual accounting.

Select January and June and August December

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91525308

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