Accounts which records only cash transactions in case of Non for profit concern.
Answers
Answer:
May be......
Explanation:
After you record a cash receipt in your journal or computer, retain all records of the transaction. The documentation could be a copy of a receipt given to a customer, a bank deposit slip or a cash register tape. Any cash you spend to support your business is an expense and should be recorded in your expense journal.
Answer:
It is a summary of the cash book.
We record all the cash receipts during the whole year on its debit side. Whereas, we write all the cash payments for the whole year on its credit side.
We include both receipts and payments in cash whether they are of capital and revenue nature.
We record only cash transactions in receipt and payment account.
It generally shows a debit balance. In the case of overdraft balance, its net balance may be credit.
Explanation:
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