Problem

Interpreting the Revenue PrincipleIndicate the most likely time you expect sales revenue t...

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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