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7 Which statement is FALSE? At the time of a credit sale, a company would record Accounts Receivable and Revenue. O Trade discounts represent a

image text in transcribed 7 Which statement is FALSE? At the time of a credit sale, a company would record Accounts Receivable and Revenue. O Trade discounts represent a discount offered to the purchaser before the sale. 1 pts A sales discount represents a reduction in the amount to be paid by a credit customer if payment is made within a specified period of time The Sales Returns account is an expense account

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