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What are the main advantages and disadvantages of instalment sales?
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∙ 15y ago
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How do you record a journal entry for an installment sale?
Installment A/r(dr) Installment sales(cr)
What is installment sales fiinance?
Installment sales are sales of goods under a definite schedule of payments, which involve a specified cash outlay as a down payment with the balance payable in agreed upon periodic installments
What is installment sales finance?
Installment sales are sales of goods under a definite schedule of payments, which involve a specified cash outlay as a down payment with the balance payable in agreed upon periodic installments
Installment Sales Method?
Installment sales method is a sales method used to determine revenue when a sales or service is purchased on a long term payment plan. Revenue recognition is delayed until the payment is actually made, not at the time of the sale or service delivery.
What is the difference between hire purchase and installment sales?
Whd0
What is the rate of gross profit on installment sales if a merchandise costing 1500000 on an installment basis is sold for 2000000?
2000000-1500000=500000 500000/20000000=25%
What are the eight types of business transaction?
cash sales, credit sales,purchase on account,collection from sales on account,settlement of purchase on account, direct purchase on cash,installment sales and installment payment
What are the types of credits?
Charge accounts, credit card, consumer loans, mortgage loans, and installment sales 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 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.
Distinguish between the Bailment and hire purchase?
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 Monthly installment plan?
Monthly installment plan
