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A computer retailer sells some computer games to a minor.This contract is:
Accounts Receivable
tracks money owed to a business by customers who have purchased goods or services on credit, representing a line of credit extended by the business and due within a short period.
Sales
The transactions involving the exchange of goods or services for money or other compensation.
Perpetual Inventory System
An inventory tracking system that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.
Merchandise Inventory
Finished goods held for sale by a company in the ordinary course of business; also known as stock-in-trade.
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