Question

3) In which special purpose book " Purchase of goods on cash" be recorded: *

Answer 1

Purchase of goods on cash is recorded in “Cash Book”

Answer 2

They are recorded in the Cash book.

• It is a monetary book holding a record of all the cash proceeds and then posting the sections into the general ledger.
• Receipts for cash and cheques are recorded on the debit side and the credit side records both cash and cheque payments. The book keeps track of all cash and bank transactions in chronological order.
• Purchase of any asset for cash is always recorded in the cash book.