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Cash is nice because you don't spend what you don't have. Credit transactions don't require you to carry cash that can be lost or stolen.
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∙ 9y ago
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Do you only record credit transactions in general journal?
we can also record cash transactions too
What are the advantages and disadvantages of subsidiary books?
Advantages of subsidiary books is easy to understand.we can maintain all transactions individually (cash,credit,sales,purchases).help to take financial business decisions for future.
What is paper transactions?
paper transaction is the transaction against which no credit or cash received or paid it is just in papers.
Can you record transactions in 2 journals Example Can sale of merchandise for cash be put in the cash receipts journal and the sales journal?
A sale of merchandise for cash would be: Debit cash or bank account, Credit sales
Transactions recorded in the cash receipts journal?
Transactions recorded in the cash receipts journal are, all receipts of cash.
What Does Cash Credit Line Availability Mean?
It's the amount of credit on your credit card that is currently available for you to use for cash advance transactions.
Do you only record credit transactions in general journal?
we can also record cash transactions too
How many type of transactions are there?
Two types of transactions: Cash Transactions- Where payment is made immediately by cash or cheque. Credit Transactions- Where the goods or services hands immediately but payment take place at a later time.
What are the advantages and disadvantages of subsidiary books?
Advantages of subsidiary books is easy to understand.we can maintain all transactions individually (cash,credit,sales,purchases).help to take financial business decisions for future.
What are the Advantages and disadvantages of cash Credit?
you can only imagin the answers
Does it boost your credit rating if you pay for a new car in full?
Cash transactions do not normally have any effect on a consumer's credit rating.
When is cash is more convenient than credit?
There are lots of transactions for which cash is more convenient. Not all stores even accept credit cards or have the necessary equipment to process credit card transactions. Lots of people work on a cash basis as well. Aside from cash and credit cards there are also checks, which are good for paying bills, but not everyone will accept a check because checks may bounce. Many restaurants carry a sign which reads "In God we trust; all others pay cash."
What is paper transactions?
paper transaction is the transaction against which no credit or cash received or paid it is just in papers.
Where to enter cash and credit purchase?
Purchases Journal & Cash Payments Journal.Also called as Specialized Jounal Entries. Purchases Journals record transactions that involve purchases on credit. Source documents here would probably be invoices. The purchase of inventory on credit is recorded in the purchases journal. Cash Receipts Journal record transactions that involve payments received with cash Source documents would probably be receipts and cheque butts.
Can you record transactions in 2 journals Example Can sale of merchandise for cash be put in the cash receipts journal and the sales journal?
A sale of merchandise for cash would be: Debit cash or bank account, Credit sales
Transactions recorded in the cash receipts journal?
Transactions recorded in the cash receipts journal are, all receipts of cash.
What are the advantages of using the Discovery credit card?
"There are many advantages of using the Discovery credit card. You can get cash back at various different restaurants, discounts on travel and savings in monthly payments."
