The below question, I have take into account the accrual basis and believe I have the correct answer of letter "a". Any input is appreciated.
A firm performed services for a client in September for $100. It collected $70 in September and $30 in October. Based on this information, for the month of October the firm should recognize
a. no revenue.
b. revenue of $30.
c. revenue of $100.
d. None of the above.
