Multiple Choice
-Jeter Company ordered 400 toy wagons from Lamar, Inc. on May 1, 2018. Jeter Company paid for them on May 20 at a cost of $3 each. Jeter sold 50 of them on June 2, 2018, for $4 each to Gilloz Company. Gilloz Company paid Jeter on June 10.
On which date should Jeter Company recognize revenue?
A) May 1
B) May 20
C) June 10
D) June 2
Correct Answer:
Verified
Correct Answer:
Verified
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