Aflower shop makes a large sale for $1,000 on november 30. the customer is sent a statement on december 5 and a check is received on december 10. the flower shop follows gaap and applies the revenue recognition principle. when is the $1,000 considered to be recognized?
a) december 10
b) november 30
c) december 1
d) december 5

November 30

Explanation:

The $1000 is recognized as a debit to Accounts Receivable and a credit to Sales Revenue on November 30.  The journal entry would look like this:

Nov 30     Accounts Receivable                    1,000

                           Sales Revenue                                     1,000

answer; engaging in effective public relations;

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

                                          hope it