Pimpered Chef sells cooking supplies and training services. Under a contract with Ruth's Restaurants, Pimpered Chef...
Pimpered Chef sells cooking supplies and training services. Under a contract with Ruth's Restaurants, Pimpered Chef will provide $60,000 of supplies and three months of training for $2,000 per month. Pimpered's right to receive consideration for cooking supplies is conditional upon providing one month of training services before they can bill the customer for the supplies. When Pimpered delivers the supplies on the first day of training services, the company will recognize
Question 5 options:
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Homework Answers
Solution:
When Pimpered delivers the supplies on the first day of training services, the company will recognize "$60,000 Asset."
Hence option C is correct.
Add Answer to:
Pimpered Chef sells cooking supplies and training services.
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picture…but did he really want a partner?It was going to be a long
night.
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