Question

A document sent to a potential customer to let him/her know the cost of goods or services before they decide to purchase them is known as:a. invoiceb. debit notec. credit noted.d. quotation

Answer 1

Invoicing your customer prior to shipment shouldn't so much be a SOX issue so long as you have a procedure in place to properly address the specific matter. If you've invoiced the customer but have not shipped AND they have not paid, I'd argue that you have nothing at month/period end. I agree with Wayne that the easiest way to record it is to DR Deferred Revenue and CR Revenue, but at month/period end, I would reverse (or topside) off the whole thing. If you haven't shipped, then you have no revenue and if you haven't received payment, you have no revenue to defer. Even if they have paid, I would still reverse the revenue and just make it a pure balance sheet entry (DR Cash and CR Deferred Revenue or some other liability). My main point is that there is no revenue until you ship.

Answer 2

Answer:

cr revenue is your correct answer

Explanation:

pls mark as brainlist