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1 . Inventory is purchased on credit on 1 August and is received on 1 4 August. It is paid for on 1 2 September.

1. Inventory is purchased on credit on 1 August and is received on 14 August. It is paid for on 12 September.
2. A customer buys a product on credit on 13 November and takes immediate delivery, promising to pay on 1 February of the following year.
3. A customer orders a custom-built machine and pays when the order is placed on 20 February. The machine is delivered on 10 March.
4. The company uses a substantial amount of electricity. The electric utility issues bimonthly bills (i.e., one every two months) three weeks following the two-month usage period.
5. A sale on credit is completed on 20 January; the product is delivered on 1 February. Payment is received on 1 March.
In what period will the initial transaction be recognized and the element realized cash for each of the scenario mentioned above.
April 1
August 14
August 14 & November 13
December 31

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