The amount of revenue recognized in the income statement by a company that sells goods to customers would be?

a. the cash collected from customers during the current period

b. total sales, both cash and credit sales, for the period

c. total sales minus beginning amount of accounts receivable

d. the amount of cash collected plus the beginning amount of accounts receivable

2 Answers

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  • Beardo
    Lv 7
    1 decade ago
    Favorite Answer

    b.

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  • 1 decade ago

    Because the income statement is using the accruals concept.

    So you should choose B.

    Source(s): www.onlinfreeaccounting.com
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