Economics · Accrual Accounting
According to the accruals concept, when should a credit sale be recorded in the general ledger?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Only after the customer has confirmed their intention to pay.
- 2At the end of the accounting period, regardless of when the sale occurred.
- 3When the goods or services are delivered and the invoice is issued.✓
- 4When the cash is received from the customer.
Correct answer
When the goods or services are delivered and the invoice is issued.
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