Accounting Dictionary
Sold
When a buyer gives something of value to a seller in exchange for goods or services, we say the goods or services are sold.
If Mary gave Macy’s department store $400 for a new coat that would be a sale. Mary got the coat and Macy’s got the money. The coat was sold.
https://accounting.uworld.com/cpa-review/lc/accounting-dictionary/term/sold/
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