Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is a good response to the information below? Opinion.... A business knows when to make and when to make a sales because abusiness makes

What is a good response to the information below?

Opinion....

A business knows when to make and when to make a sales because abusiness makes an invoice when they sell products using a credit card and make sales receipts when they sell goods for money or get money on credit sales to the client.

An invoice is demanded installments while sales receipts act as proof for installments.On the off chance that invoices are given, at the point, the income is relied upon to be acknowledged in the future. Consequently, they are recorded as account holders. When receipts are issued, it speaks to that money is received, and thus either sale is recorded as cash sales or indebted individuals' balance is decreased.

In general, Wholesale industries that sell a plethora of goods to resale or further processing are likely to issue invoices, and retailers who sell goods to final customers are likely to issue receipts.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting What the Numbers Mean

Authors: David Marshall, Wayne McManus, Daniel Viele

12th edition

007802529X, 1259969525, 978-1260565492

More Books

Students also viewed these Accounting questions