When an accrual basis is used, revenue is recorded As income when it's
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Answer:
When an accrual basis is used, revenue is recorded when the receivable is recorded. It becomes income as the receivable decreases.
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As an accounting major myself I know that accrual accounting records revenues whenever they are earned.
When an accrual basis is used, revenue is recorded when the receivable is recorded. It becomes income as the receivable decreases.
Revenue is recognized when both of the following conditions are met: Revenue is earned and revenue is realized or realizable.
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