Under accrual accounting,accounts receivable are recorded when sales are made and accounts payable when payments have been received.

Name: Under accrual accounting,accounts receivable are recorded when sales are made and accounts payable when payments have been received.
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Under accrual accounting, accounts receivable are recorded when sales are made (reflecting credit sales), and accounts payable are recorded when expenses are incurred, not when payments are received.

Under Accrual Accounting,accounts Receivable Are Recorded When Sales Are Made