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What are the difference between installment sale and credit sale?
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How do you record a journal entry for an installment sale?
Installment A/r(dr) Installment sales(cr)
What is the difference between output vat and deferred output vat?
Deferred output tax is recorded by the seller for the sale of things on credit, and the standard output tax is recorded for the sale of things that were paid for with cash.
What is the difference between a purchase on account and a sale on account?
Purchase on account means purchases from vendors on credit while sales on account means selling to customers on credit.
What is the difference between cash and credit sales?
when you purchase something with cash that's what you have available right then and there. with credit you don't have to pay out of pocket right away. you are having someone else hold an accounting for the amount you have spent and send you a bill that is best paid off upon receiving it, to avoid interest.AnswerCash sale you pasy with dollars, credit sale you pay with credit or debit card
Is cost of sale credit or debit?
Credit or debit
What is the difference between installment sales and credit sales?
An installment sale is a special type of credit arrangement which provides for payment in periodic installments over a predetermined period of time and results from the sale of real estate, merchandise, or other personal property. In the ordinary credit sale, the collection interval is short(3-90days) and title passes unconditionally to the buyer concurrently with the completion of the sale(delivery). In contrast, in an installment sale the cash down payment at the date of sale is followed by payments over a longer period of time (six months to several years), and in many states the transfer of title remains conditional until the debt is fully discharged.
What is the difference between cash sale and credir sale?
A cash sale is instant - a credit sale is a 'promise' of payment to come.
What is the difference between sale and higher puarchase?
sale refers to the ownership of the goods will transfer at the time of agreement itself. it is to seller to buyer. higher purchase refers to the payment made by the installment bases so the ownership of the goods will transfer after the payment of last installment is called higher purchase....
How do you record a journal entry for an installment sale?
Installment A/r(dr) Installment sales(cr)
What is the difference between output vat and deferred output vat?
Deferred output tax is recorded by the seller for the sale of things on credit, and the standard output tax is recorded for the sale of things that were paid for with cash.
What is the difference between a purchase on account and a sale on account?
Purchase on account means purchases from vendors on credit while sales on account means selling to customers on credit.
What is the difference between hire purchase and credit sales?
1. hire purchase(HP) is an agreement of hire, whereas credit sales is an agreement of sale. 2. ownership of goods is transferred from hire vendor to hire purchaser only when the last installment is paid, but in sales, ownership is transferred immediately to the buyer. 3. price is paid by the hire purchaser through installment which is treated as hire, but in sales price is paid in lumpsum or according to the agreement of sale. 4. the hire vendor can repossess the goods on default. but in sales the seller cannot take back the goods, whatever is the case. 9634357689
What are the example of installment sale?
financial statement
The impact of NCA on installment sale?
its Becca's Emilio is ugly
What is the difference between atm and debit card?
difference between debit cards and ATM cards Debit cards, there are points of sale or ATM cards, there are no points of sale
What are the differences between hire purchase and credit sales?
1. hire purchase(HP) is an agreement of hire, whereas credit sales is an agreement of sale. 2. ownership of goods is transferred from hire vendor to hire purchaser only when the last installment is paid, but in sales, ownership is transferred immediately to the buyer. 3. price is paid by the hire purchaser through installment which is treated as hire, but in sales price is paid in lumpsum or according to the agreement of sale. 4. the hire vendor can repossess the goods on default. but in sales the seller cannot take back the goods, whatever is the case.
What is difference between sale and sell?
Sale is a noun; and sell is a verb. Examples: "I made a sale." "Did you sell your car yet?"
