Question

SE3. Concept – which of the following events would be recognized and entered in Hallmark Company’s accounting records? Why? Jan. 10 Hallmark places an order for office supplies. Feb. 15 Hallmark receives the office supplies and a bill for them. Mar. 01 Hallmark pays for the office supplies.

Answer 1

Explanation:

In the first transaction company received the order. order is an economic event and it doesn't have any financial effect on the corporate. So, it'll not...