Final answer:
A sale has not occurred when a traveler uses a credit card to guarantee a hotel reservation without being charged; it's viewed as an authorized transaction or commitment to purchase.
Step-by-step explanation:
From an accounting standpoint, when a reservationist receives a call and makes a reservation for a hotel room, and the traveler uses a credit card to guarantee the reservation without an immediate charge, a sale has not occurred, and the event is considered a commitment to purchase or an authorized transaction. It's only when the traveler actually stays at the hotel and the room charge is processed that a sale occurs, and revenue can be recognized. The initial reservation with the credit card holds the room for the guest, but since no money is transferred at that point, it cannot be recorded as a sale in the hotel's books.