On June 1, Year 2, Archer, Inc. issued a purchase order to Cotton Co. for a new copier machine. The machine requires one month to produce and is shipped f.o.b. destination on July 1, Year 2, and is received by Archer on July 15, Year 2. Cotton issues a sales invoice dated July 2, Year 2, for the machine. As of what date should Archer record a liability for the machine?
Cash 134. AICPA.051178FAR-FA The following are held by Smite Co.: Cash in checking account $20,000 Cash in bond sinking fund account 30,000 Postdated check from customer dated one month from
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