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Argon Industries Holdings made a credit sale of $6,000 and recorded a journal entry debiting Accounts Receivable for $6,000 and crediting Sale of Merchandise for
Argon Industries Holdings made a credit sale of $6,000 and recorded a journal entry debiting Accounts Receivable for $6,000 and crediting Sale of Merchandise for $6,000. Identify the true statement about the given journal entry. Select a Choice Below current question choices OptionA The entry contradicts the matching principle as revenue is recognized here before the cash is collected. OptionB The entry is consistent with the matching principle as revenue is recognized when the amount to be collected can be reasonably estimated. OptionC The entry is consistent with the revenue realization principle as revenue is recognized when the earning process is substantially complete. OptionD The entry contradicts with the revenue realization principle as revenue is recognized here before the cash is collected
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