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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
Wiki User
∙ 12y ago
Wiki User
∙ 8y agoIn cash sales, payments are made instantly by the buyer/customer to the seller, where as in credit sales, the payments are generally made after a specific period as agreed upon between the buyer and the seller.
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What is the journal entry for a cash sell?
Debit Cash Credit Sales
Does cash sales and credit sales equal net sales?
yes they do but if the cash sales and credit sales ar the same number they equal subsales
What are the differences between a cash and credit transaction for purchase and sales?
With Credit card you have to pay the credit company back later, cash is paid and over with if used.
What is journal entry of cash sales?
Debit Cash $XXX Credit Sales $XXX
What is the journal entry for purchase on credit and sales on cash?
Debit: Purchases Credit: Accounts Payable Debit: Cash Credit: Sales
Explain the difference between a cash and credit transaction for purchass and sales?
explain the difference between cash and credit transaction
What is the difference between sales and cash sales?
In cash sales, payments are made instantly by the buyer/customer to the seller, where as in credit sales, the payments are generally made after a specific period as agreed upon between the buyer and the seller.
What is different between sales credit and cash credit?
In cash sales, payments are made instantly by the buyer/customer to the seller, where as in credit sales, the payments are generally made after a specific period as agreed upon between the buyer and the seller.
What is the journal entry for a cash sell?
Debit Cash Credit Sales
How do you account cash sales return?
[Debit] Sales return [Credit] Cash /bank [Debit] Sales [Credit] Sales return
Does cash sales and credit sales equal net sales?
yes they do but if the cash sales and credit sales ar the same number they equal subsales
Does sales made on credit cause accounting profit and cash flow to differ?
Yes, because due to sales on credit sales are accounted for when they are occurred while cash is received in some future time that;s why accounting profit and cash flows differ due to recognition timing difference.
What are the differences between a cash and credit transaction for purchase and sales?
With Credit card you have to pay the credit company back later, cash is paid and over with if used.
Cash sales to ram for 300rs?
Debit Cash 300 Credit Sales 300
What is journal entry of cash sales?
Debit Cash $XXX Credit Sales $XXX
What is the journal entry for purchase on credit and sales on cash?
Debit: Purchases Credit: Accounts Payable Debit: Cash Credit: Sales
Difference between cash credit and overdraft?
Cash is money. Credit is a delayed form of payment. Overdraft is based on credit and is also a delayed form of payment.
