Any Exchange of value is called "Transaction" such as
a: Purchase of Merchandise,land,building furniture on cash.
b: Purchase of Merchandise,plant,furniture etc on credit.
c: Sold merchandise,old furniture,Building,Equipment On Cash.
d: Sold Merchandise,Old Equipment,land etc..on credit.
e: Rendered services on cash.
f: Rendered services on Credit.
g: Received Cash/Cheque/Note/bill
h: Paid Cash/cheque/Note bill.
All the above Exchange involved the values.These transactions are sub-divided into:
1: Cash Transactions:
Th transaction which involved the immediate exchange of cash(Receipt or payment)
as a,c,e,g,h of the above transactions.
2: Credit Transactions:The Transactions in which the exchange of value is involved but the immediate exchange
of cash is not made.The receipts and payment are to be made later on as b,d,f of the above transactions.
a: Purchase of Merchandise,land,building furniture on cash.
b: Purchase of Merchandise,plant,furniture etc on credit.
c: Sold merchandise,old furniture,Building,Equipment On Cash.
d: Sold Merchandise,Old Equipment,land etc..on credit.
e: Rendered services on cash.
f: Rendered services on Credit.
g: Received Cash/Cheque/Note/bill
h: Paid Cash/cheque/Note bill.
All the above Exchange involved the values.These transactions are sub-divided into:
1: Cash Transactions:
Th transaction which involved the immediate exchange of cash(Receipt or payment)
as a,c,e,g,h of the above transactions.
2: Credit Transactions:The Transactions in which the exchange of value is involved but the immediate exchange
of cash is not made.The receipts and payment are to be made later on as b,d,f of the above transactions.
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