Question

Sam has been saving his money to purchase a new computer. He believes he has $781.70 in his checking account, but when he uses his debit card to buy the computer, the transaction won’t go through. Which of these could be a reason for this problem?

Answer 1

1. Yeah, Sam hadn't saved enough money  
2. During his estimates, Sam made some mistakes, but he had less capital on his record than  
3. Sam made a few mistakes during his reports because he had less money than he expected on his account

Explanation:

A financial transaction is an arrangement or a contract to swap goods for compensation between a purchaser and a seller. There is a transition in the financial situation of two or more companies or persons.

A cashless company describes an economy in which financial transactions consist entirely of electronic data (generally an electronic portrayal of money) among transacting parties rather than money in a form of personal banknotes or gold and silver.

The trade between the Organization and another individual is an official contract. A great example of an extrinsic transaction is the purchase of goods from either a third party seller. An overall journal entry records each cash payment in the billing system.