The Fireside Country Inn is a very popular destination for tourists. The Inn requires guests to make reservations at least two months in advance of their stay. A 20 percent down payment is required at the time the reservation is made. When should this inn recognize room rental revenue?
| On the date the reservation is received. | |
 | On the date the money for the reservation is received. |
| → | On the date the guests stay in the inn. |
| On the date the guests pay the remaining 80 percent due. | |
| Once all cash has been received. |
