Solution: Sky Bound Airlines has provided the following information regarding cash received for ticket sales in September and October: Cash received in
Question: Sky Bound Airlines has provided the following information regarding cash received for ticket sales in September and October:
Cash received in September for October flights $1,700,000
Cash received in October for October flights $1,300,000
Cash received in October for November flights $1,800,000
Apply the realization principle to determine how much revenue Sky Bound Airlines should report in its October income statement.
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