Interpreting the Revenue Principle
Indicate the most likely time you expect sales revenue to be recorded for each of the listed transactions
Transaction | Point A | Point B |
l. Sale of inventory to a business customer on open account | ___Shipment | ___Collection of account |
b. Computer sold by mail order company on a credit card | ___Shipment | ___Delivery |
c. Airline tickets sold by an airline on a credit card | ___Point of sale | ___Completion of flight |
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