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Bingwen owns a ski shop and follows Generally Accepted Accounting Principles. Yesterday, a customer purchased a pair of skis on account; the customer told Bingwen

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Bingwen owns a ski shop and follows Generally Accepted Accounting Principles. Yesterday, a customer purchased a pair of skis on account; the customer told Bingwen that she would pay him next week. The retail price of the skis was $620. Select all of the below statements that are true. Bingwen can record revenue related to this ski sale now even though the customer will not pay for the skis until next week. Bingwen should wait to record revenue related to the skis until the customer pays him. Bingwen would create an Account Payable to account for the fact that he has not yet been paid for the skis. Bingwen would create an Account Receivable to account for the fact that he has not yet been paid for the skis

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