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The cash is received b. The company performs the service c. The company bills the customer d. It is certain the customer is not going to complain about the quality of the service
c. When the company bills the customer, show the first entry in your credit sales a/c
and second entry when received the cash for the goods and services.
According to the Recognition of Revenue Principle
We have to conditions should be met together before the recording of the revenues.
1- Goods should be delivered and/or services should be made.
2- Cash, or Accounts/Notes receivables should be obtained.
Without these two conditions, you are not allowed to record such items as revenues any more.
Thank You
Revenue is recognised only when it is probable that economic benefits associated with the transaction will flow to the entity.It means that when invoicing a customer,revenue sholud be recognised.
b.The company perform their services that start your revenue for the company
when c.the company bill the customers start the record revenue its a annully or quarterly revenue of company
THE ANSWER IS A.The cash is received
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