Statement #$3$: One way to interpret the change in Cute Camel's accounts receivable balance from Year $1$ to Year $2$ is that more customers purchased new items on credit rather than paying off existing credit accounts.

This statement is $,$ because:

The change from $$2,970$ million to $$3,712$ million reflects a net accumulation of new credit sales

The $$253$ increase in accounts receivable means either that Year $1\text{'}$s existing credit customers are not paying off their owed balances and new or existing customers are making additional purchases on credit, or that Year $1\text{'}$s credit customers have repaid their owed balances and Year $2$ credit sales have exceeded Year $1\text{'}$s credit sales

The decrease from $$1,266$ million to $$1,013$ million implies a net decrease in accounts receivable and that more customers are paying off their receivables balances than are buying on credit

Based on your understanding of the different items reported on the balance sheet and the information they provide, which statement regarding Cute Camel Woodcraft Company's balance sheet is consistent with U$.$S$.$ Generally Accepted Accounting Principles $($GAAP$)?$

The company's debts are listed in the order in which they are to be repaid.

The company's debts should be listed from those carrying the largest balance to those with the smallest balance.

The company's debts should be listed in order of their liquidity.