Business, 11.01.2020 06:31 matt2167

Prepayments occur when:
a. cash payment (or an obligation to pay cash) occurs before the expense recognition.
b. sales are delayed pending credit approval.
c. customers are unable to pay the full amount due when goods are delivered.
d. cash payment occurs after the expense is incurred and liability is recorded.

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Prepayments occur when:
a. cash payment (or an obligation to pay cash) occurs before the expe...

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