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Credit sales are transactions that happen when customers purchase stock without using cash. This lesson will look at the advantages and disadvantages of credit sales and the National credit act.
Up Next in Term 2
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Debtors journal and debtors allowance...
Debtor's journals are used to record credit sales. This lesson will teach you how to account for these records.
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Preparing a debtors allowance journal
Similar to the debtor's journal but different as the sales column is replaced with the debtor’s allowance.
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Recording debtors payments and settem...
The debtor will either make a full payment called a settlement or a part payment called installments. This lesson will go into details on how the receipts from the payment/s are recorded as a source document in the CRJ.
