what is transaction? give example?
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Examples of accounting transactionsare: Sale in cash to a customer. ... Receive cash in payment of an invoice owed by a customer. Purchase fixed assets from a supplier. Record the depreciation of a fixed asset over time.
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➡An accounting transaction is a business event having a monetary impact on the financial statements of a business.
↪ It is recorded in the accounting records of the business.
➡Example = Sale in cash to a customer.
↪ Receive cash in payment of an invoice owed by a customer.
↪ It is recorded in the accounting records of the business.
➡Example = Sale in cash to a customer.
↪ Receive cash in payment of an invoice owed by a customer.
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