Recording Sales

Recording Sales - Recording Sales

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Recording Sales Sales invoices  are source documents that provide a record for each sale. For control purposes,  sales invoices should be sequentially prenumbered to help the accounting department determine the  disposition of every invoice.  Sales revenues  equal the selling price of all products that are sold. In  accordance with the revenue recognition principle, sales revenue is recognized when a customer  receives title to the merchandise, regardless of when the money changes hands. If a customer  purchases merchandise at a sales counter and takes possession of the goods immediately, the sales 
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