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LG sold 800 G7 phones in October for LG Electronics. As the demand was so high,...

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Question

Accounting

LG sold 800 G7 phones in October for LG Electronics. As thedemand was so high, LG can just deliver the G7 phones in Novemberand it allowed LG Electronics for paying for them just in Decemberand January. When will LG record the revenue from this sale?

A. October

B. November

C. December

D. December and January

Answer & Explanation Solved by verified expert
3.9 Ratings (715 Votes)
Solution In the Given case LG sold 800 G7 phones in October but As the demand was so high LG can just deliver the G7 phones in November LG allowed LG Electronics for paying for them in December and January In    See Answer
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