In this period,Andrew,Inc.recorded Sales Revenue of $100,000 from sales of goods to customers who agreed to pay later.In the next period,Andrew received payment from customers of $90,000.Which of the following statements is correct?
A) Revenue for this period is $90,000.
B) Accounts Receivable at the end of this period is $100,000.
C) Accounts Payable at the end of this period is $10,000.
D) Expenses for next period will increase by $10,000.
Correct Answer:
Verified
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