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The Rainbow House Painting Company has been contracted to paint a house for $3,600. One-half...

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Accounting

The Rainbow House Painting Company has been contracted to paint a house for $3,600. One-half of that amount will be paid up front; the rest will be paid upon satisfactory completion. Rainbow should recognize the revenue when: the work begins. the first payment is received. half of the work is complete and half of the payments have been received. the work is complete.

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