difference between cash book and credit book
Answers
Answer:
Passbook is issued by the bank to the account holder that records the deposits and withdrawals. Cash book is prepared by the firms whereas Passbook is written by banks and retained by the customer. ... Conversely, in passbook debit balance shows overdraft while the credit balance shows cash at the bank.
Explanation:
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Answer:
A cash book is a financial journal that contains all cash receipts and disbursements, including bank deposits and withdrawals. Entries in the cash book are then posted into the general ledger.
KEY TAKEAWAYS
A cash book is a subsidiary to the general ledger in which all cash transactions during a period are recorded.
The cash book is recorded in chronological order, and the balance is updated and verified on a continuous basis.
There are three common types of cash books: single column, double column, and triple column.
Explanation:
Book credits are a grower-owner's investment in PCCA. It is money that is held as equity on the balance sheet of the co-op. Holders of book credits or equity at PCCA, or any cooperative, are owners of that business.