0
Cash sales are more profitable. Cash is credited on the same day it's paid into the bank - earning interest from the moment it's deposited. Credit sales need to be cleared through the banks system which can take three working days from the day afterthe transaction occurred.
Add your answer:
Earn +20 pts
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 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
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 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.
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
Cash sales of 2600 was credited into the bank?
[Debit] cash 2600 Credit sales 2600 Deposited to bank Debit Bank 2600 Credit Cash 2600
How do you calculate net credit sales?
Total sales - cash sales - sales return
