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Completed plans for guest house, pool and spa for a client. The $5700 fee for this project was billed to the client in May but will not be collected until June 25. What is revenue realized?
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Completed plans for guest house, pool and spa for a client. The $5700 fee for this project was billed to the client in May but will not be collected until June 25. What is revenue realized?

User Radiantradon
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Answer:

The transaction actually represented revenue in the month of May. So The revenue was earned in May and thus should count towards the May accounting period.

User VoidKing
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