how to identify the the cash transaction. in accounts
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A transaction is a business event that has a monetary impact on an entity's financial statements, and is recorded as an entry in its accounting records. Examples of transactions are as follows: Paying a supplier for services rendered or goods delivered.
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Example of a Cash Transaction
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.
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