The Rainbow House Painting Company Has Been Contracted to Paint

Multiple Choice

The Rainbow House Painting Company has been contracted to paint a house for $3,600.One-half of that amount will be paid up front; the rest will be paid upon satisfactory completion.Rainbow should recognize the revenue when:

A) the work begins.
B) the first payment is received.
C) half of the work is complete and half of the payments have been received.
D) the work is complete.