When a sale is made on credit basis, Its recognized in income statement at the time of? pick up the correct match

Which of the following would be recorded as income for the current accounting period?Group of answer choicesA sale is made on credit.A customer pays a deposit for services to be provided in the following accounting period.The owner contributes cash to the business.Cash is received for a credit sale made in the previous accounting period.

. What factors need to be considered for selling goods on credit

Select all that applyA journal entry for a sale of merchandise on credit will result in all of the following:Multiple select question.Credit to Merchandise InventoryDebit to Cost of Goods SoldDebit to SalesDebit to Accounts ReceivableCredit to Cost of Goods SoldCredit to Sales

In the current accounting period, sales (calculated on an accrual basis) are $180,000 and the cash received from sales is $215,000, therefore:credit sales that occurred in a previous period may have been paid for in the current period.cash sales for the period were greater than credit sales.credit sales that occurred in the current period may not yet have been paid for.none of the options are correct.

Which of the following should not be called ‘Sales’? A. Office fixtures sold B. Goods sold for cash C. Goods sold on credit D. Sale of item previously included in ‘Purchase