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Revenue Recognition
9 Months Ended
May 31, 2012
Notes to Financial Statements  
Revenue Recognition

 

Note 2:  Revenue Recognition

 

Revenue will be recognized upon delivery of sailing instruction and when collection is reasonably assured.  During the period ended May 31, 2012, the Company received a $1,750 tuition deposit for forthcoming sailing lessons.  The deposit has been recorded as unearned revenue until the sailing instruction is complete.