credit sales are sales you have made on credit, so they still owe you the money for that item. credit purchases are things you have purchased from your suppliers on credit and therefore you owe the money for
Yes, and purchases are always debit.
A sales book is for recording sales (money you receive) a purchase book is for recording your purchases (money you pay).
The consumer finance companies has been servicing credit since 1916. The sales finance companies has been in since 1940.
Whd0
Sales assistants work in a shop and help customers with their purchases. This could include guiding customers to merchandise, stocking shelves, and ringing up purchases. These are only a few of the sales assistant's potential duties.
Purchase on account means purchases from vendors on credit while sales on account means selling to customers on credit.
Credit sales referes to sales and accounts payable referes to bank
explain the difference between cash and credit transaction
credit sales
It means that 60% of sales and purchases are done on cash basis while 40% of purchases and sales are done on credit basis.
Debit: Purchases Credit: Accounts Payable Debit: Cash Credit: Sales
Yes, and purchases are always debit.
Roughly, a Sales Plan is your strategie for achieving sales (purchases). A Sales forecast is an estimate at the beginning of a time period of how much one expects to sell.
For retailers, it is 18% on their mark-up.
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.
sales return
If sales goods returned: [Debit] Sales account xxxx [Credit] Sales Return account xxxx if purchase goods returned: [Debit] Purchase return xxxx [Credit] Purchases account xxxx