The two primary classes of transactions in the sales and collection cycle are
A)sales and sales returns.
B)sales and sales discounts.
C)sales and accounts receivable.
D)sales and cash receipts.

Question

Quizplus · Accepted Answer

The two primary classes of transactions in the sales and collection cycle are sales and cash receipts. Sales transactions record the revenue generated from selling goods or services, while cash receipts transactions document the collection of cash from customers, completing the cycle from sale to payment.

The Two Primary Classes of Transactions in the Sales and Collection