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Question(s) / Instruction(s):

A catering company supplies food for a large event for $20,000 on October 30. The customer is sent a statement on November 5 and a check is received on November 10. The catering company follows GAAP and applies the revenue recognition principle) When is the $20,000 considered to be earned?

a)            November 5

b)            November 10

c)            October 30

d)            November 1

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