In osazone formation, glucose reacts with three molecules of phenylhydrazine. Which statement is true regarding this?

First molecule of phenylhydrazine undergoes nucleophilic addition on carbonyl (–CHO in glucose and > CO in fructose) group. Second molecule of the reagent oxidizes – CHOH – at position 2(in aldoses) or – CH₂OH at position I (in ketoses) to from – CHO or > C = O respectively. The third molecule again undergoes nucleophilic addition on the newly developed carbonyl group to from osazone.