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Describe What OD Is and What It Can Be Used

question 26

Essay

Describe what OD is and what it can be used for.


Definitions:

Cash Drawer

A compartment within a cash register where the cash from transactions is kept.

Cash Receipts

Money received by a business, often recorded in the period it is received.

Cash Sales

Revenue received from transactions where payment is made immediately in cash.

Collections

The process of pursuing and receiving payments on outstanding accounts receivable from customers.

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