Your firm sells ten copiers to the Riverside Co. on September 15 for $20,000. your firm delivers the copiers to Riverside on September 20 and Riverside pays $8,000, agreeing to pay the balance on October 5. Using the accrual basis, which one of the following entries would properly record your firm's revenue recognition for September? 

A. DR Cash 20,000 CR Copier sales 20,000

B. CR Cash 12,000 CR Accounts receivable 8,000 DR Copier sales 20,000 

C. DR Cash 8,000 DR Accounts receivable 12,000 CR Copier sales 20,000 

D. DR Accounts receivable 20,000 CR Cash 20,000

Answer rating: 100% (QA)

Based on the accrual basis of accounting revenue should be recognized when ... View the full answer