Question

Up & Away Airlines has provided the following information regarding cash received for ticket sales in September and October:
Cash received in September for October flights............$500,000
Cash received in October for October flights............300,000
Cash received in October for November flights...........400,000
Apply the realization principle to determine how much revenue Up & Away Airlines should report in its October income statement.



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  • CreatedApril 17, 2014
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