Using accrual accounting rules, XYZ Co. places an order with ABC Co. on January 4,2022....
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Using accrual accounting rules, XYZ Co places an order with ABC Co on January Does ABC record revenue on that date? No Yes Only if ABC collects cash from its customer on that date Only if signs a firm contract with ABC 
Using accrual accounting rules, XYZ Co places an order with ABC Co on January
Does ABC record revenue on that date?
No
Yes
Only if ABC collects cash from its customer on that date
Only if signs a firm contract with ABC
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