Question: When a customer pays an entity for a credit purchase, the entity records an increase in Cash and a corresponding decrease in Accounts Receivable. Thus,

When a customer pays an entity for a credit purchase, the entity records an increase in Cash and a corresponding decrease in Accounts Receivable. Thus, when Aird Company receives a check for $3,800 from Shannon Mills in February, Aird Company makes the following entry: Dr. Cr. 3,800 3,800

Revenue [was / was not] recognized in February.

Dr. Cr. 3,800 3,800

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