Cash sales
From Wikicpa
Cash sales are sales in which the delivery of goods or services and collection of the proceeds occur simultaneously. Retail stores, restaurants and entertainment enterprises generally operate on a primarily cash sale basis (with some charge sales).
Cash sales are normally recognized as revenue when the cash is received except in transactions where collections are made in advance of delivery of goods or services. In these transactions, recognition of revenue is customarily deferred until delivery of the goods or services.
Cash sales differ from other sales in that they are complete in themselves. No additional steps are necessary to recognize revenue.
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