True or False: U.S. GAAP requires written contracts for firms to recognize revenue. True . False Hornets Company sells 100,000 bobble head dolls during 2019. It provides a right to return to all its customers and typically has 5% of dolls returned for a full cash refund. Customers retumed 3,500 of dolls sold during 2019 prior to December 31. True or False: 49er Company will DEBIT "Cost of Goods Sold" as part of an adjusting entry on December 31. 2019 True False True or False Under current U.S. GAAP guidance both a contract asset and accounts receivable include a conditional right to payment True False