There is no difference between the recording of cash sales and the recording of MasterCard or VISA sales.

Name: There is no difference between the recording of cash sales and the recording of MasterCard or VISA sales.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Both cash sales and MasterCard or VISA sales involve the exchange of goods or services for payment. The recording of these transactions follows the same basic principles of debiting an asset account (Cash or Accounts Receivable) and crediting a revenue account (Sales).

There Is No Difference Between the Recording of Cash Sales