Which of the following statements about updating an open customer invoice file is correct?
A) Only cash sales are added.
B) Only credit sales are added.
C) Both cash and credit sales are added, but the cash sales are eliminated at the end of the accounting period.
D) Both cash and credit sales are added, because the file provides a source of sales history.

Question

Quizplus · Accepted Answer

Both cash and credit sales are added to update an open customer invoice file because the file provides a source of sales history. The file needs to be updated with all transactions, including both cash and credit sales, for accurate and complete recording of sales data. There is no need to eliminate cash sales at the end of the accounting period as they are an important part of the sales history.

Which of the Following Statements About Updating an Open Customer