Asked by
mindahun admassu
on Nov 14, 2024Verified
The retailer considers Visa and MasterCard sales as
A) cash sales.
B) promissory sales.
C) credit sales.
D) contingent sales.
Visa and MasterCard
Global payment systems that facilitate transactions between merchants and card issuers to process credit and debit card payments.
Cash Sales
Transactions where payment is made in full using cash or electronic funds at the time of purchase.
Retailer
A business or person that sells goods directly to consumers for their own use.
- Comprehend the accounting treatment of credit card transactions by retail businesses.
Verified Answer
LV
Learning Objectives
- Comprehend the accounting treatment of credit card transactions by retail businesses.
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