On June 27,Healthy Life Services,Inc

Multiple Choice

On June 27,Healthy Life Services,Inc.performed extensive tests on lab specimens submitted by several customers and sent invoices totaling $5,200,due in 30 days.

A) No revenue from rendering these services should be recorded until payment is received.
B) This situation causes an increase in assets and in revenue in June,but has no effect on owners' equity until payment is received.
C) Revenue is earned in June,but assets are not increased until payment is received.
D) Assets,revenue,and owners' equity are increased in June,regardless of when payments are received for the services rendered.