Is it true that when one firm sells to another on credit, the seller records the transaction

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Is it true that when one firm sells to another on credit, the seller records the transaction as an account receivable while the buyer records it as an account payable and that, disregarding discounts, the receivable typically exceeds the payable by the amount of profit on the sale?

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Fundamentals Of Financial Management Concise

ISBN: 9780324258721

4th Edition

Authors: Eugene F. Brigham, Joel F. Houston

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