Orange county shop follows The revenue recognition principal orange county servi

Question

Orange county shop follows The revenue recognition principal orange county service a bicycle in on July 31 the customer picked up the bike on August 1 and mail the payment to orange county on August 5 orange county received the check in the mail on August 6 when should Orange County show that the revenue was recognized Orange county shop follows The revenue recognition principal orange county service a bicycle in on July 31 the customer picked up the bike on August 1 and mail the payment to orange county on August 5 orange county received the check in the mail on August 6 when should Orange County show that the revenue was recognized Orange county shop follows The revenue recognition principal orange county service a bicycle in on July 31 the customer picked up the bike on August 1 and mail the payment to orange county on August 5 orange county received the check in the mail on August 6 when should Orange County show that the revenue was recognized

Explanation / Answer

The revenue was recognized by Orange County on July 31.

This is because the service was provided on july 31 and revenue should be recognized on the date of providing the service irrespective of any other facts.

So, the answer is July 31

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