Question

A sales receipt is Group of answer choices used when recording a sale on account used to track cash receipts received from a sale used when cash is collected at the time of a sale used to provide the bank a notification that payment has been received from the customer

Answer 1

Answer:

Used when cash is collected at the time of sale

Explanation:

At the point of sales , sales receipt is the document that is issued to the buyer to serve as an evidence of purchase and payment. Contrary to a credit sales where sales are recorded on an invoice and a debit entry made  to the account receivable , in cash transaction , sales receipts are issued and cash debited for the transaction.

A sales receipt contains information like date of transaction ,items purchased , unit price , total price , supplemental information concerning returns, etc.

Answer 2

Answer:

A) A sales receipt is used when recording a sale

B)A sales receipt is an account used to track cash receipts received from a sale

C) A sales receipt is used when cash is collected at the time of a sale

Explanation:

A sales receipt is a document used by firms, business centres whether large or small, shops and stalls, to record sales made with cash as well as the time the sale was made. Before a sales document can be issued to a customer, there must have been a cash transfer because receipts indicate cash sales and not credit sales. Items found in a sales receipt include: name of the customer, address of the customer, date of the sale or issuing of receipt, phone number of the customer, number and list of items purchased, name of the seller and his signature or his representative and the signature of the customer.