what is cash puchase ? and example of cash puchase?
Answers
Answer:
Cash purchase refers to a property acquisition with no financing. Usually a seller offers a lower price for a cash purchase since the buyer could close payment immediately, and transaction costs to the seller would be less than for a sale involving financing.
Explanation:
Example of a Cash Transaction
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.
Answer:
A cash purchase occurs when a business pays for goods or services immediately upon ordering or delivery. No credit is extended by the supplier. ... The resulting expense is posted immediately to an expense account, regardless of whether the business uses accrual or cash basis accounting.
Common examples of cash equivalents include commercial paper, treasury bills, short term government bonds, marketable
Explanation:
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