Question

-1
Explain the following:
a) Cash and nercantile system of accounting.
b) Cash book, purchases and sales books
c) Personal accounts and impersonal accounts
d) Balancing the accounts
e) Classification of errors​

Answer 1

Answer:

b.Cash sales and purchases/expenses books

cheque book stubs.

cancelled cheques.

bank paying-in books.

bank statements.

copies of your own invoices.

receipts and delivery notes.

your suppliers' invoices.

receipts for all cash purchases, till rolls, etc.