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Alpha Teach Yourself Bookkeeping in 24 Hours by Carol Costa

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Hour 7

Credit Sales and Customer Information

Chapter Summary

In this hour you will learn about…

  • Credit sales
  • Accounts Receivable
  • Customer ledgers
  • Posting credit sales
  • Billing the customers
  • Posting payments
  • Beginning/Ending balances

Many retail operations issue credit cards to their customers allowing them to pay for their purchases over an extended period of time. Some stores even offer discounts and other incentives to coax customers into applying for their charge accounts. There’s no doubt that offering credit to customers leads to higher sales figures. Buy now and pay later has become an accepted way to do business.

 

While other companies do not issue charge cards to their customers and clients, they do allow them to receive products and services on a ...

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