Answered
Using the accrual basis,which one of the following entries would properly record Canon's revenue recognition for October?
A) DR Cash \quad\quad 40,000
CR Copier sales \quad\quad 40,000
B) DR Cash \quad 16,000
CR Copier sales \quad 16,000
C) DR Cash \quad\quad 16,000
DR Accounts receivable \quad\quad 24,000
CR Copier sales \quad\quad 40,000
D) DR Accounts receivable \quad 40,000
CR Copier sales \quad 40,000
On May 14, 2024