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The An Corporation accepted a credit card for a sale of $2,000 on December 16, 2011. The credit card company charges a fee of 4%.

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The An Corporation accepted a credit card for a sale of $2,000 on December 16, 2011. The credit card company charges a fee of 4%. On January 5, 2012, An received payment from, the credit card company. Indicate whether each of the following statements is true or false. a) An should record the $2,000 revenue in 2012 when the cash is received. b) An should record a credit card receivable account receivable of $2,000 on 12/16/11 c) The collection of cash in 2012 has no effect on 2012 net income. d) The collection of cash does not affect total assets in 2012. e) The entry on 12/16/11 increases total revenues and total expenses on the 2011 income statement

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