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An entity is a retailer of home appliances and offers a service contract on each appliance sold. The entity sells appliances on installment contracts but all service contracts must be paid in full

at the time of the sale. Collections received for the service contracts should be recorded as an increase in a a.Deferred revenue account b.Sales contract receivable valuation account c.Shareholders’ equity valuation account d.Service revenue account
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Subject: Accounting, Business

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