Final answer:
Sales to customers using MasterCard and VISA (credit/debit cards) are recorded when a customer makes a purchase using their card, which transfers money from their bank account to the seller. The purchase amount is immediately deducted from the customer's account if they use a debit card. If they use a credit card, the credit card company transfers the money and the customer receives a bill at the end of the month.
Step-by-step explanation:
Sales to customers using MasterCard and VISA (credit/debit cards) are recorded when a customer makes a purchase using their card, which transfers money from their bank account to the seller. The cardholder's bank account is directly tied to the debit card, so the purchase amount is immediately deducted from their account. On the other hand, when the customer makes a purchase using a credit card, the credit card company transfers the money from their checking account to the seller, and the customer receives a bill at the end of the month for what they have charged. Until the bill is paid, the customer has effectively borrowed money from the credit card company.