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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.

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10y 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?

What are the main advantages and disadvantages of instalment sales?


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


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 formula for percentage of sales method?

The formula used for percentage of sales is quite simple. It entails figuring out the total amount of sales which is equal to one hundred percent. The particular method used is a portion of the total sales.


Mention the method of sales forecasting?

There are many methods of sales forecasting. One method is to look at what has happened in the past and based on that, predict the future.


What are the advantages of the must do sales forecasting method?

The advantages of the "must do" sales forecasting method include increased accuracy due to focusing on essential sales activities, better alignment with business goals, and improved predictability of future sales performance. This method helps prioritize key activities and resources, leading to more efficient sales planning and execution.


Why is the percent of sales method known as the income statement method?

bacause its lower the sale price