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What is the difference between a cash transaction and a credit transaction? |
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Answer» The difference between a cash transaction & credit transaction is the timing of the payment. A cash transaction is a transaction where payment is settled immediately. On the other hand, payment for a credit transaction is settled at a later date. For example, Ramesh buys grocery and makes payment immediately in cash it will be known as a cash transaction. However, if he makes the payment on a later date it will be known as a credit transaction. |
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