Question: 1) How does a business recognize when to create an invoice and when to create a sales receipt? What are the significant differences between sales

1) How does a business recognize when to create an invoice and when to create a sales receipt? What are the significant differences between sales receipts and invoices? What industries will most likely use invoices over sales receipts?

2) QuickBooks Desktop records revenue when an invoice is generated even though cash has not been received. Is this an acceptable practice? Why or why not?

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