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Momentous Occasions is a photography business that shoots videos at college parties. The freshman class...

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Accounting

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Momentous Occasions is a photography business that shoots videos at college parties. The freshman class pays $1,000 is advance on March 3 to guarantee services for its party to be held on April 2. The sophomore class promises a minimum of $2,800 for filming its formal dance and actually pays cash of $4,100 on February 28 at the dance. a. Considering the $1,000 paid by the freshman class, the revenue was recognized on April 2 the recognition did not occur on the same date cash was received b. Considering the $4,100 paid by the sophomore class, the revenue was recognized The recognition occur on the same date cash was received

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