Accounts receivable Select one: a. Are usually converted into cash in 30 to 60 days b. Are relatively liquid assets c. Usually appear after short-term investments in marketable securities d. All of the above

At the end of the fiscal year, apha airlines has an outstanding non-cancellable purchase commitment for the purchase of 1 million gallons of jet fuel at a price of $4.10 per gallon for delivery during the coming summer. the company prices its inventory at the lower of cost or market. if the market price for jet fuel at the end of the year is $4.50, how would this situation be reflected in the annual financial statements?