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Which of the following is not a correct statement? 1.Accounts receivable represents credit sale, and thus, cannot be collected until maturity. 2.Accounts receivable mainly consists
- Which of the following is not a correct statement?
- 1.Accounts receivable represents credit sale, and thus, cannot be collected until maturity.
- 2.Accounts receivable mainly consists of promissory notes and credit sales.
- 3.Accounts receivable is part of the current assets.
- 4.Accounts payable mainly consists of purchase of inventory on credit and notes payable.
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