19. Big Bend Outfitters sold $200,000 worth of t-shirts in 2018. Customers during 2018. Big Bend uses a perpetual inventory system. To would: account for these returns Big Bend A. Debit Sales Returns for $30,000. B. Credit Sales Returns for $30,000. C. Debit Allowance for Sales Returns for $30,000. D. Credit Allowance for Sales Returns for $30,000. E. None of the above. 20. Which of the following is not a contra revenue account? A. Sales discounts B. Allowance for sales returns C. Sales returns D. All of the above are contra revenuc accounts E. None of the above are contra revenue accounts 21. Which of the following statements is false? A. Notes receivable are always long-term assets. B. Notes receivable are discounted to present value. C. Notes receivable include an interest rate. D. Notes receivable typically include a written promissory note. E. All of the above statements are true. 22. Money market funds, treasury bills and commercial paper are all examples of: A. Cash B. Cash equivalents C. Restricted cash D. Accounts receivable 23. Which one of the following is not one of the five steps for recognizing revenue? A. Identify the contract B. Recognize revenue when (or as) each performance obligation is satisfied C. Identify the performance obligation(s) D. Allocate the transaction price E. Record the receipt of cash