Which of the following statements about credit sales are true? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

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27 March, 03:57

Which of the following statements about credit sales are true? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

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Josephine · Answer 1

The correct statements about credit sales are:

Accounts receivable arise from credit sales Accounts receivable should be reported at net realizable value. Revenue is reported when the company fulfills its promise to transfer control of a good or service to a customer