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5. The collection of an Account Receivable is recognized as income on the ______ basis...

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Accounting

5. The collection of an Account Receivable is recognized as income on the ______ basis of accounting. (5 pts)

  1. Cash
  2. Accrual
  3. Both Cash and Accrual
  4. Neither Cash or Accrual

6. A sale that generates an Account Receivable is recognized as income on the ______ basis of accounting. (5 pts)

  1. Cash
  2. Accrual
  3. Both Cash and Accrual
  4. Neither Cash or Accrual

7. Would you generally expect the account Sales to carry a debit or a credit balance? (5 pts)

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