Business, 07.12.2021 01:20 genyjoannerubiera

Consider the following three scenarios: I. ABC Lawncare performed lawn maintenance services for Drake Inc. on June 1st, and received payment of $500 for those services.
II. On June 1st, Melly Corp received payment for 100 pounds of raw material to be delivered to Drake Inc. in 6 months.
III. Lodo, LLC collected cash on June 1st for services rendered on May 1st.

Given these scenarios, revenue cannot be recognized on June 1st for:

a. II, III only
b. I, II only
c. III only
d. I, II, and III

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