Question: 2) a) In what way does this journal entry: Accounts Receivable xxx Revenues xxx tend to overstate assets and income? Remember, the typical big firm

2) a) In what way does this journal entry:

Accounts Receivable xxx

Revenues xxx

tend to overstate assets and income? Remember, the typical big firm makes this journal entry thousands of times a day.

b) How do we try to fix that problem under Generally Accepted Accounting Principles?

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