Cash Sales Journal Entry With Example
Here we study about Cash Sales Journal Entry With Example. You may also be interested in Sales Discount Journal Entry . Cash Sales includes those business transactions that include Cash and not recorded on Credit basis and hence there is not involvement of Accounts Receivable or Debtors . Instead, we are considering only Cash Transactions. There are two Accounting Systems for Recording Business Transactions . 1. Cash Basis of Accounting and 2. Accrual Basis of Accounting You may also be interested in Accrual VS Cash Basis of Accounting Cash Sales Journal Entry follows Cash Basis of Accounting rather than Accrual Basis of Accounting . When goods are sold for Cash, then Cash Sales Transactions are recorded. In this Case, in Journal , Cash is Debited as Cash increased And Sales is Credited as Sales increased from the point of view of our business. We Record the following Business Transaction in the Book or Journal of the C