ACCT 212 Week 3 Cash Based and Accrual Based Accounting Methods Post # 3
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$10.00
| Institution | ACCT 212 Financial Accounting |
| Contributor | Jessica Brown |
Good Morning Professor Pinto and classmates,
I found the following helpful in answering this question. The ways that Accrual Based Accounting and the Cash Method of Accounting are listed below.
Cash based accounting method is used to record expenses and revenue on the actual date that the cash transaction had occurred. If you were to put a down-payment on today’s date, while purchasing an item. The transaction would be recorded on today's date followed by the revenue for the item purchased on credit, then recorded on the date each payment is received.
| Instituition / Term | |
| Term | Summer 2021 |
| Institution | ACCT 212 Financial Accounting |
| Contributor | Jessica Brown |
