David Mendez On September 1, 2022, Electric Depot sold 100 laptop computers at $750 each for cash with a 120-day unconditional right of return. Based on past experience, Electric Depot estimates that approximately 1% will be returned. Which of the following is TRUE regarding Electric Depot's December 31, 2022 financial statements? Sales of $75,000 should be recognized in September 2018. Sales of $74,250 should be recognized and a provision for refund liability of $750 established in September. Sales of $75,000 should only be recognized after 120 days when the return privilege expires. Sales should only be recognized as the related cash is collected. KORTERE