Explain the difference between a cash and credit transaction?
368576
A cash transaction is something you pay for immeadiately, eg. using cash, where as a credit transaction is something you don't pay for immediately. You will buy goods on credit, receive the goods and an invoice detailing how much to be paid and by when. The usual period for payment is 30 days but this can vary depndent on supplier and industry
465033
A debit is an increase in an asset.  \n\nFor the bank that holds your credit card, the right to receive money from you in the future is something that is their asset.  When you charge $100 on your card, they 'debit' a 'receivable' of $100, and then pay the merchant whatever they pay them ('crediting' cash)\n\nYour account is debited (charged) when the business submits the charge to the bank.\n\nWhen you go to a restaurant, and you charge $30 for a meal, the restaurant runs the card for $30 and gets an 'approval number'. This means the bank guarantees that the card is valid, and that the restaurant will get $30. It also creates a tracking category on your credit card entitled 'authorizations'. While your card has not been charged, your available credit limit has been reduced because of the authorization.\n\nAt the end of the day, the business 'batches' the authorizations and actually charges the cards. They do this because it is simpler to track revenue for bookkeeping purposes as one daily batch of $2100 than 70 charges of $30.22 or whatever the bills are. Visa/MC then makes a deposit into the merchant account for $2100, instead of 70 different daily bank deposits. At the time the batch is processed, the cards are actually charged, and the authorizations are removed.
287928
The bottom line is you need to know some terms before agreeing to either the credit or debit card. You should know as a minimum: \n\nCredit Cards\n1)the annual percentage rate(apr) _ The annual percentage rate--APR--is the way of stating the interest rate you will pay if you carry over a balance, take out a cash advance, or transfer a balance from another card. The APR states the interest rate as a yearly rate. )\n\n2)grace period to pay the full balance without being charged interest(The grace period is the number of days you have to pay your bill in full without triggering a finance charge. For example, the credit card company may say that you have “25 days from the statement date, provided you paid your previous balance in full by the due date.” The statement date is given on the bill. )\n\n3)if there are any fees(Most credit cards charge fees under certain circumstances eg annual fee, cash advance fee))\n\n4)how finance charges are calculated (The finance charge is the dollar amount you pay to use credit. The amount depends in part on your outstanding balance and the APR. )\n\n5)if there are any transaction charges for such things as balance transfer, late payments, cash advance, going over your limit, etc. \n\n6) Credit limit (The credit limit is the maximum total amount--for purchases, cash advances, balance transfers, fees, and finance charges-you may charge on your credit card. If you go over this limit, you may have to pay an “over-the-credit-limit fee.")\n\n\nDebit Cards\nWhen you pay with a debit card, the money is automatically deducted from your checking account. \nMany people prefer debit cards over checks for two reasons:\n\n-You don't have to carry your checkbook and present identification, but are still able to make purchases directly from your checking account. \n-You pay your bills immediately, unlike when you use a credit card and get the bill later.
649208
S/He's right.  It's too vague at the moment - you need to actually get some figures to be able to do anything meaningful.\n\nThen to compare them, you could look at a scenario where by you buy one item and just pay the minimum each month to see how long it will take.\n\nYou can then plot a graph showing the outstanding amount for the two cards (PS don't forget the fees!) - this will then compare them.\n\nThen you could expand your investigation for different scenarios (eg pay off everything each month, pay off everything every other month, pay off twice the minimum recommended amount, transfer a balance and do nothing else until you have to pay it off...)
697127
Ok let's say you purchased a computer valued at $1,000.00. You paid $500.00 cash and the rest on credit. (let's assume a loan)\n\nYou're entry should be the following:\nDebit - Asset (whatever name you give it) $1000.00\nTotal Debits - $1000.00\n\nCredit - Cash $500.00\nCredit - Payable Account (loan) $500.00\nTotal Credits - $1000.00
1131608
It's not possible.  The money is guaranteed by the company that sold it to you for the cash.  Money orders and cashier's checks represent as Cash on a balance sheet.  They cannot bounce like a check.
928599
Debit and Credit are formal bookkeeping and accounting terms that have opposite meanings and come from Latin. Debit comes from debere, which means "to owe". The Latin debitum means "debt". Credit comes from the Latin word credere, which means "to believe".\n\nDebit is abbreviated Dr., while credit is abbreviated Cr.\n\n"Debit" also refers to the left side of a general ledger account, while "Credit" refers to the right side.\n\nA debit is also (informally) referred to as a "charge."\n\nA debit or credit changes the balance of an account. Asset and expense accounts increase in value when debited and decrease when credited, whereas liability, equity, and revenue accounts decrease in value when debited and increase when credited. This distinction is somewhat counterintuitive, until the nature of those accounts is more closely scrutinized. For example, revenue is coded as a credit. After recording a day's sales, the company will have credited a certain amount in revenue, and since credits are negative numbers, the balance grows more and more negative. An adjustment to revenue would need to be a debit, because its purpose is to bring the revenue totals closer to zero.\n\nIt is often assumed that a debit decreases a balance, and a credit increases it, because this is how the terms are used on bank statements and using a debit card decreases the balance in one's bank account. However, this is because bank statements are traditionally written from the bank's perspective, where the customer's account is a liability. By withdrawing money, the customer is decreasing the bank's liability. Since liability accounts normally have a credit balance, the withdrawal of cash from a banking account is reflected on the bank's balance sheet as a debit.
961764
Most banks sell Cashiers Checks instead of money orders - basically the same thing but easier to cancel, trace or replace.  Your also paying for the banks time which they consider more valuable.
227685
Dr. Discount (given)\nDr. Cash \nCr. Sale \n\nThis is the journal entry for recording the transaction... it gives the accounts affected..\n\nKnow the fundamental concepts of accounting here...\n\nhttp://www.futureaccountant.com/accounting-process/study-notes/\n\nhttp://www.futureaccountant.com\nhttp://www.schoolingkids.com
468178
a money order is a piece of paper. Western Union is an electronic money transfer.
623405
Rapid cash, faster service.\n\nAutomated cash - great service compounded daily.\n\nReliable cash, reliable service - you just know its there.\n\nQuick cash, quicker service - no worries.\n\nOR\n\nQuick cash, relaible service - no worries.\n\nEasy cash, easy service - every time.
1105022
Depends on type of money order.  If it is a Western Union money order, the agent should be able to cash them. Others, like Moneylink should be cashed by their agent.
626062
It makes NO difference on your part. Check card works either as credit card or debit card. In either case, the amount is deducted from your account immediately. The reason the bank gives you the choice is because some stores (like some small stores, restaurants or stores overseas) don't have machines to process debit cards. When you use it as credit card, don't expect to get the same kind of service as you get from your regular credit card company (which is not tied into your bank account). You will not be able to dispute your charge or even get a copy of receipt from the bank since it is treated just like debit card purchase at the bank. Some banks give you incentives to use your check card as credit card because they can charge the store a few percent more for credit card use than debit card use. For the same reason, some stores prefer you using debit card because they pay less to the bank for each processing. Again, it makes no difference to you unless you want to get cash back, in which case, you want to use it as debit card. And of course, if your bank either penalizes or rewards you for using it one way, then, that is a consideration.\n\nP.S. If you ever buy something on line from a store you have never heard of, or buying something from some small somewhat suspicious looking business owners, don't use your check card (either debit or credit) but use your real credit card. There is no recourse for the payment made with your check card and they may get access to your checking account.
439029
When you use a "debit card," you have a choice to pick debit or credit.  If you pick debit, you enter your pin number and the charge is registered immediately from your checking account.  If you pick credit, you will sign the receipt usually, and the charge may take a day or so before it is deducted from your checking account.\nFor sure, do NOT ever pay a fee for using your card such as an ATM.  It is your money so no need to ever waste any.  Watch your pennies.  Usually banks charge no fees from at least their own ATMs.
314643
Need more info to answer.\n1) what country you in\n2) what was cash and stock received for and from whom
116385
Actually they're both different transactions. It's all part of a negotiation tactic. One usually tries to get the most value up front, so we try to get two cents out of them. When they feel reluctant to put their two cents in, we can take the next step and make a deal they can't refuse: we'll pay them to tell us their thoughts. But notice that it's not two pennies for your thoughts. That would create a negative cash flow. It's all written off as a marketing expense anyway.
511733
Depends.  There should be an explanation as to what those details are (interest payments, fees).  Call your bank and ask for an explanation if you still don't understand.