When a firm sells goods or services on credit, the owner needs to remember that for cash budgeting purposes
select one:
a. the sale may be immediately posted as if it has been collected
b. such a transaction counts as a cash disbursement
c. she/he must account for a delay between the sale and the actual collection of the proceeds
d. the sale should be recorded in the month it was made
Answers: 2
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When a firm sells goods or services on credit, the owner needs to remember that for cash budgeting p...
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