Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. palm beach hotel accepts telephone reservations fo

Palm Beach Hotel accepts telephone reservations for rooms during its summer tourist season, but requires...

50.1K

Verified Solution

Question

Accounting

Palm Beach Hotel accepts telephone reservations for rooms during its summer tourist season, but requires a 20% cash deposit by June 1st. The realization principle indicates that the room rental revenue from these guests should be recorded in the period that the:

A) 20% deposit is received

B) telephone reservation is received

C) 80% balance is collected

D) guests stay in the motel

*Please explain your answer*

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

Hello, this is for my analytical chemistry class. How do you solve the following question: Calculate...

Biology
1.2K views

1. Describe conditions of early Earth that existed before the origin of life. Your description should...

Physics
1.2K views

9 For the circuit shown in figure the direction and magnitude of the force on...

Basic Math
1.2K views

Figure The Market for Milk Price P P P a b P o C e...

Basic Math
1.2K views

Which measurement is closest to the area of two pieces of pieces of pizza if...

Statistics
1.2K views

You are interested in finding a 95 confidence interval for the average commute that non...

Calculus
1.2K views

In a batch of 28 pedometers, 3 are believed to be defective. A quality-control engineer...

Calculus
1.2K views

The graph of y f x solid and its tangent line at x 0 dashed...

Accounting
1.2K views

Dingleberry operates a chain of 300 convenience stores. Dingleberry wants to install automated frozen yogurt...

Accounting
1.2K views

help solve Product Cost Method of Product Costing Voice Com, Inc,...

Accounting
1.2K views

Angelena files as a head of household. In 2023, she reported $61,250 of taxable income,...

Accounting
1.2K views

A company is considering purchasing factory equipment that costs $400000 and is estimated to have...