chapter 3 3+4 Flashcards
(2 cards)
1
Q
what is a cash purchase
A
a cash purchase occurs when goods are bought (or a service revived) and the customer pays immediately using cash, debit card, credit card or checks. a receipt is issued for the amount of cash paid
2
Q
what is credit purchase
A
a credit purchase occurs when goods are bought ( or a service received) and the customer does not have to pay immediately but can pay after a specified number of days. An invoice is then issued to request that payment is made
