A manufacturing company received 50,000 cash on december 31,1996 as an advance payment on a special

For each of the following situation,determine whether the criteria for revenue recognition have been met by december 31,1996

A manufacturing company received 50,000 cash on december 31,1996 as an advance payment on a special order piece of equipment.the equipment will be manufactured by march 31,1997

The television dealer acquired six new high definition teleision set for 8400 cash on december 31,1996 and advertised their availability,at 2000 each,in the evening newspapper.
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Asked Jul 04, 2013

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