Your friend is a graphic designer who started his own business. He asks you How do I
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Your friend is a graphic designer who started his own business. He asks you “How do I record revenue and expenses correctly?” Explain when to record revenue and expenses based on the accrual basis of accounting. Give one example for revenue and one example for expenses to show your point.
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Revenue should be recorded in the period it is earned Earning revenue ...View the full answer
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Related Book For
Fundamental Accounting Principles Volume 1
ISBN: 9781259259807
15th Canadian Edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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