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Amador Pizza Company produces high-quality pizzas that are distributed to shops in resort areas. On July 1, the company purchased the raw materials to make the pizza. On July 15, the process was complete, and the product was stored in their containers ready to ship to customers. On July 31, Romano’s Pizzas ordered 100 boxes of pizzas. On August 1, Amador Pizza delivered the pizzas to Romano’s . Romano paid Amador on August 10. Romano’s sold all the pizza between August 5 and August 12.   If it uses cash‐basis accounting, when will Amador record the revenue from the sale to Romano? a. August 1 b. July 31 c. July 1 d. August 10

Amador Pizza Company produces high-quality pizzas that are distributed to shops in resort areas. On July 1, the company purchased the raw materials to make the pizza. On July 15, the process was complete, and the product was stored in their containers ready to ship to customers. On July 31, Romano’s Pizzas ordered 100 boxes of pizzas. On August 1, Amador Pizza delivered the pizzas to Romano’s . Romano paid Amador on August 10. Romano’s sold all the pizza between August 5 and August 12.   If it uses cash‐basis accounting, when will Amador record the revenue from the sale to Romano? a. August 1 b. July 31 c. July 1 d. August 10

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter10: Short-term Decision Making
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Problem 11PA: Quality Clothing, Inc., produces skorts and jumper uniforms for schoolchildren. In the process of...
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Amador Pizza Company produces high-quality pizzas that are distributed to shops in resort areas. On July 1, the company purchased the raw materials to make the pizza. On July 15, the process was complete, and the product was stored in their containers ready to ship to customers. On July 31, Romano’s Pizzas ordered 100 boxes of pizzas. On August 1, Amador Pizza delivered the pizzas to Romano’s . Romano paid Amador on August 10. Romano’s sold all the pizza between August 5 and August 12.

 

If it uses cash‐basis accounting, when will Amador record the revenue from the sale to Romano?

a. August 1

b. July 31

c. July 1

d. August 10

 

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