Sections:

Accounting for Sales and Cash Receipts, Page 3

Icon for Objectives Accounting for Sales and Cash Receipts: Objectives

After you have completed this section, you will be able to:

  1. Explain the difference between a service and a merchandising business.
  2. Analyze transactions relating to the sale of merchandise.
  3. Explain the difference between a retailer and a wholesaler.
  4. Record a variety of sales and cash receipt transactions in a general journal.
  5. Define the accounting terms introduced in this chapter.