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Credit Sales
Sales for which payment is not received at the time of purchase, allowing customers to pay at a later date, thereby creating receivables for the seller.
Cash Sales
Transactions where payment is made in cash at the time of purchase, without the extension of credit.
Inventory
The goods and materials that a business holds for the ultimate purpose of resale or production.
Accounts Payable
Refers to the amounts due by a company to its creditors for goods or services received that have not yet been paid for.
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