Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 1 - No. 27)
2. What does it mean when an invoice shows goods supplied on credit?
The buyer has paid for the goods in cash.
The seller is expecting to be paid later by the buyer.
The goods were supplied to the seller's customer.
The buyer doesn't need to pay for the goods.
Explanation
Goods on credit mean the buyer hasn't paid yet and will pay at a later time.
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