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The Following Information Pertains to Sooner Company: Assuming That Sooner

Question 69

Multiple Choice

The following information pertains to Sooner Company: Assuming that Sooner Company uses cash-basis accounting,when would the company record the expense related to the supplies?
 May 1 Customer ordered an installation service to be done by Sooner Company on May 15. May 2 Customer paid cash tor the installation job to be done on May 15. May 8 The Sooner Company purchased installation supplies on account tor the job.  May 15 The installation job was started and completed.  May 20 Amount owed for supplies purchased on May 8 is paid. \begin{array} { | l | l | } \hline \text { May } 1 & \text { Customer ordered an installation service to be done by Sooner Company on May } 15 . \\\hline \text { May } 2 & \text { Customer paid cash tor the installation job to be done on May } 15 . \\\hline \text { May } 8 & \text { The Sooner Company purchased installation supplies on account tor the job. } \\\hline \text { May } 15 & \text { The installation job was started and completed. } \\\hline \text { May } 20 & \text { Amount owed for supplies purchased on May } 8 \text { is paid. } \\\hline\end{array}


A) May 2.
B) May 8.
C) May 15.
D) May 20.

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