Define Gift card.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Define Gift card.
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Step 1
Cash sales
These refer to sales made by companies in the form of liquid currency as cash. These are sales made by the seller of the product or service immediately when the delivery is made. As a result, in the books of accounts, these are added directly to the asset side as a part of cash.
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