๐‘๐ž๐ฏ๐ž๐ง๐ฎ๐ž ๐‘๐ž๐œ๐จ๐ ๐ง๐ข๐ญ๐ข๐จ๐ง ๐๐ซ๐ข๐ง๐œ๐ข๐ฉ๐ฅ๐ž

๐‹๐ž๐š๐ซ๐ง ๐‘๐ž๐ฏ๐ž๐ง๐ฎ๐ž ๐‘๐ž๐œ๐จ๐ ๐ง๐ข๐ญ๐ข๐จ๐ง ๐๐ซ๐ข๐ง๐œ๐ข๐ฉ๐ฅ๐ž ๐ˆ๐ง ๐Ÿ’ ๐Œ๐ข๐ง๐ฎ๐ญ๐ž๐ฌ

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Under the revenue recognition principle, revenue is recognized when itโ€™s earned, not when cash is received.