In This Period, a Company Recorded Sales Revenue of $50,000

Multiple Choice

In this period, a company recorded sales revenue of $50,000 from sales of goods to customers who agreed to pay later. In the next period, the company received payment from customers of $45,000. Choose the TRUE statement.

A) Revenue for this period is $45,000.
B) Accounts receivable at the end of next period is $5,000.
C) Accounts payable at the end of this period is $5,000.
D) Cash for next period will increase by $50,000.