Questions

Our Solution:

Here is one solution of many:

If as a business, you buy goods or services on credit from a supplier (accounts payable) then the supplier will supply the goods and business will incur a liability to the supplier for that amount, but no cash will change hands at that stage.

Some of those shop keepers allowed regular "trustworthy" customers to purchase items without having the full payment.

Hence, Buying on credit means that no actual money has changed hands.

Jatindra Nath Das, also known as Jatin Das, was a revolutionary and Independence activist. He embraced death in Lahore jail after fasting for 64 days in 1929 at the age of 24 yrs.