Question

give illustration of cash transaction of goods and give illustration of credit transactions of service ​

Answer 1

Answer:

For example, a person walks into a store and uses a debit card to purchase an apple. The debit card functions the same as cash as it removes the payment for the apple immediately from the purchaser's bank account. This is a cash transaction.

For example, you may buy some groceries at your local shop and pay for them in cash there and then, that's a cash transaction. ... On the other hand, credit transactions are paid at a later date than when the exchange of goods or services took place and almost all of time an invoice for the transaction is issued.

Explanation:

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