Which transaction would be recorded in a cash basis system of accounting?

Name: Which transaction would be recorded in a cash basis system of accounting?
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Question

Quizplus · Accepted Answer

In a cash basis system of accounting, transactions are recorded when cash is paid or received. Therefore, the sale of goods for cash would be recorded, as cash would be received at the time of the transaction. The other options involve credit, meaning cash has not yet been exchanged, and would not be recorded in a cash basis system.

Which Transaction Would Be Recorded in a Cash Basis System