【单选题】An internet travel agent receives $5,000 on 1 April 20X2 for arranging a holiday to Cyprus. It will pass on 90% of this amount to the holiday company, with payment due on 15 June 20X2. The customer wi...
A.
The travel agent should recognise $5,000 as revenue Immediately and should accrue for the $4, 500 payment to the holiday company, recognising the expense as a cost of sale
B.
The travel agent should recognise $500 as revenue and $4, 500 as deferred income
C.
The travel agent should recognise $500 as revenue and $4, 500 as a payable
D.
The travel agent should not recognise any revenue. The entire $5,000 should be credited to deferred income