Sales through credit cards and debit cards are journalized in the same way as sales on account.

Name: Sales through credit cards and debit cards are journalized in the same way as sales on account.
Brand: Quizplus
Rating: 4.7 (38 reviews)

Question

Quizplus · Accepted Answer

Sales through credit cards and debit cards are typically recorded immediately as cash sales because the funds are guaranteed by the card issuer, unlike sales on account which are recorded as accounts receivable since payment is received at a later date.

Sales Through Credit Cards and Debit Cards Are Journalized in the Same