Recognition Acoounting

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Which of the following events would be recognized(recorded) and entered in accounting records of Kazuo company ? Explain why?

Jan 10th K. Company places an order for office supplies

Feb. 15 K. Company receives the office supplies and a bill for them

Mar 1-K.Company pays for the office supplies

 

Tell how the concept of recognition,valuation,and classification apply to these 2 transactions.

 


Cash   of a Credit june1s $1,000  

Debit of sipplies june 1st $1,000

    • 11 years ago
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