Summary of Significant Accounting Policies: Revenue Recognition Policy (Policies)

12 Months Ended

Dec. 31, 2020

Policies

Revenue Recognition Policy

Revenue recognition

We recognize revenue in accordance with ASC 606, Revenue From Contracts with Customers, which requires that five basic criteria be met before revenue can be recognized: (i) identify the contract with the customer; (ii) identity the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price; and (v) recognize revenue when or as the entity satisfied a performance obligation.

Revenue recognition occurs at the time control transfers to customers which is when the product is shipped to customers, when, provided there are no material remaining performance obligations required of the Company or any matters of customer acceptance. We only record revenue when collectability is probable.