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A flower shop makes a large sale for 1,000 on November 30. The
A flower 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 revenue recognition principle. When is the 1,000 considered to be earned?
This question was answered on: Feb 21, 2020
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