A doctor for the Benson Family Practice performs a sports physical exam for AllisonSmythe on February 1.
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Question:
A doctor for the Benson Family Practice performs a sports physical exam for AllisonSmythe on February 1. The charge for the exam is $100; Smythe’s insurance company,Cardinal Health, is billed for the entire $100 on February 1. Cardinal Health receivesthe invoice on February 2, and enters the amount into its payment system on February 4.Benson Family Practice receives the $100 payment from Cardinal Health on February 20.On which date would Benson Family Practice recognize the revenue for Smythe’s physical?
a. February 1
b. February 2
c. February 4
d. February 20
Related Book For
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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