When a customer (buyer) returns merchandise purchased on credit,what is to be done?

When should revenue from the sale of merchandise normally be recognized? A)When the customer takes possession of the merchandise.   B)When the customer takes possession of the merchandise, if sold for cash, or when payment is received, if sold on credit.   C)Either on the date the customer takes possession of the merchandise or on the date on which the customer pays.   D)When the customer pays for the merchandise.

If a customer purchases merchandise on credit and returns the defective merchandise beforepayment, what accounts would recognize this transaction?A. sales discount, cashB. sales returns and allowances, cashC. accounts receivable, sales discountD. accounts receivable, sales returns and allowances

When goods are sold on a bill-and-hold basis, what conditions must be met to recognize revenue upon receipt of the order?