Describe and discuss the procedure of creating the receipts side of a cash
book.
Answers
Answered by
0
Procedure for creating the receipts side of a cash book.
Explanation:
The primary book in which cash receipts and payments transactions are documented in chronological order of dates with details and balance is drawn at the end of the day, or a particular time is called cash book.
- The debit side stands for cash receipts and the credit sides’ stand for cash disbursements.
- All payments are reported on the receiving side and all cash disbursements are recorded on the cash book payment side.
At the end of the day or a particular period, the totals of receipts and payments are made and the difference between these two totals is shown as balance.
Similar questions