Customer loyalty programs are used to attract and keep customers and when accounting for programs all of the following statements are true, except for O a. a contra sales account is used to show increases in revenues. Ob. . customer loyalty programs may also be referred to as incentive programs. a liability needs to be estimated. When a company is overdrawn at the bank as a result of using its line of credit, the amount would be shown on the balance sheet as O a. a contra account to accounts receivable. O b. a current asset with a credit balance. Oc a current liability. O d. a current asset with a debit balance. An estimated liability should not be recorded until the exact amount is known. O a False O b. True Cash payments received in advance of goods being provided or services being performed should still be recorded as revenues. O a. True O b. False