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Q. What is the sales revenue in the income statement if customers purchased the products on credit. Is the sales revenue the amount customers actually
Q. What is the sales revenue in the income statement if customers purchased the products on credit. Is the sales revenue the amount customers actually paid this year, or the total amount they should pay?
And please give me some suggestions on where should the part company hasn't received from its customers goes to on the three financial statements. From my understanding, it will only show on the balance sheet, not sure if this is correct.
thanks!
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