Assuming a client has a December 31 year end, which of the following is not a timing difference that would result in the customer reporting a lower balance than the balance on the clients books?

Group of answer choices

All of the above are timing differences that result in the customer reporting a lower balance than the client.

The customer mailed a payment in December which was received by the client in January.

The client issued a credit memo in December that was received by the customer in January.

The customer returned goods in December that were received by the client in January.

The client shipped goods in December which were received by the customer in January.