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9. When sales are made with a right of return, the company Select one: a. records a liability for the cost of the inventory as

9.

When sales are made with a right of return, the company

Select one:

a.

records a liability for the cost of the inventory as part of the sale

b.

records an asset in an inventory account upon return of the item.

c.

records an asset in an inventory account for the value they expect to receive upon return.

d.

should not recognize any revenue.

e.

should recognize revenue for the full sales price.

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