Question 5 4 pts Which of the following statements is incorrect? Revenue will be recognized as soon as the merchandise is sold but only for the portion that the company estimates will not be returned. Revenues from discontinued operations of a company are reported separately from revenues from continuing operations in the income statement A seller, acting as an agent for another company by selling the company's goods on consignment, recognizes the gross amount of the sale as revenue In order to report "accounts receivable, net, companies need to estimate the amount they do not expect to collect from their credit customers