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Is it true that when one firm sells to another on credit

Is it true that when one firm sells to another on credit, the seller records the transaction as an account receivable while the buyer records it as an account payable and that, disregarding discounts, the receivable typically exceeds the payable by the amount of profit on the sale?

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Finance Basics: Is it true that when one firm sells to another on credit

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Finance Basics: Is it true that when one firm sells to another on credit

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