Question: On June 2 3 , 2 0 X 8 , Mikhal Cosmetics sold $ 2 5 0 , 0 0 0 worth of its products

On June 23,20X8, Mikhal Cosmetics sold $250,000 worth of its products to Rynex Corporation. The goods were shipped to Rynex on July 2. The payment from Rynex was received on September 20. Under the "cash basis of accounting" revenue should be recorded on:

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