Question

JustCookies signs a contract to sell $20,000 worth of cookies to a restaurant in June. The cookies are delivered in July, and the restaurant pays in August.
When should JustCookies record the revenue?
SELECT ONLY ONE

When the fiscal year ends

When the cookies are baked

When the delivery is completed

When the contract is signed

Answer 1

Answer:

When the contract is signed

Step-by-step explanation:

Because if they dont pay it they can take it to court and win the case because they signed a contract but didn't follow it.

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Answer 2

Answer:

When the contract is signed

Step-by-step explanation

JustCookie should record the revenue for when the transaction contract was signed because the deal is more of done when the contract was signed.