Revenue Recognition and Expense Recognition Video Lessons

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Problem: Jorge receives a gas bill for $200 on 9/28, which will be paid on 10/15, and he makes the correct adjusting journal entry. What accounting principle is he following? A. Historical Cost B. Revenue Recognition C. Matching Principle D. Conservatism

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Problem Details

Jorge receives a gas bill for $200 on 9/28, which will be paid on 10/15, and he makes the correct adjusting journal entry. What accounting principle is he following?

A. Historical Cost

B. Revenue Recognition

C. Matching Principle

D. Conservatism

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