Asked by Jenae Jenkins on Apr 24, 2024
Sales to customers who use bank credit cards, such as MasterCard and Visa, are generally treated as
A) sales on account
B) sales returns
C) cash sales
D) sales when the credit card company remits the cash
Bank Credit Cards
Financial instruments issued by banks that allow users to borrow funds for purchases, subject to repayment terms and interest.
Cash Sales
Transactions where goods or services are purchased and paid for with cash at the time of the sale.
- Distinguish between different types of sales (cash sales, sales on account, sales with bank credit cards).
Learning Objectives
- Distinguish between different types of sales (cash sales, sales on account, sales with bank credit cards).
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