On 2/25/2019, a company sells products for a customer for $200,000. The terms of the sale are "2/10, n/30". The customer pays the full amount on 3/1/2019. The company uses the GROSS method. Which of the following statements are true (select all that apply - i.e. just one or as many as all of them) On 2/15, total assets increase by 196,000 On 2/25, a contra-asset account increases by $4,000 The journal entries recorded on 2/25 reduce the gross profit reported in the 2019 income statement The journal entries recorded on 2/25 reduce the current ratio Question 11 (10 points) (continued from the previous question) Suppose now the company uses the NET method but the customer pays the full balance on 3/15. Which of the following statements re true? (select all that apply - i.e. only one or as many as all of them) After the 2/15 journal entries have been recorded, the company's current ratio is the same as it was in the previous question Question 11 (10 points) (continued from the previous question) Suppose now the company uses the NET method but the customer pays the full balance on 3/15. Which of the following statements re true? (select all that apply - i.e. only one or as many as all of them) After the 2/15 journal entries have been recorded, the company's current ratio is the same as it was in the previous question The journal entries recorded on 3/15 have no impact on the current ratio The journal entries recorded on 3/15 increase the quick ratio The journal entries recorded on 3/15 increase net income The 2019 cash flow statement is the same as it was in the previous