Sales made on account normally lead to cash receipts. true or false.

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07-03-2017
Business

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Sales made on account normally lead to cash receipts. true or false.

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metchelle metchelle · Answer 1 · 2017-03-20T15:57:48+01:00

metchelle metchelle

20-03-2017

In accounting, cash receipts refer to the record of the sales made in a form of cash, therefore, credit sales are not included in this record. When we say sales made on account, this refers to credit sales. Therefore, the answer to the given statement above is FALSE.

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