features of receipt and payment account
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Characteristics of Receipt and Payment Account:
It is abridged addition of cash book - it is, in effect, a summary of cash book.
All cash receipts during the whole year are recorded on its left hand (i.e., debit) side. ...
Cash receipts and cash payments of both capital and revenue nature are recorded here.
Answered by
1
Answer:
Characteristics of Receipt and Payment Account:
- It is abridged addition of cash book - it is, in effect, a summary of cash book.
- All cash receipts during the whole year are recorded on its left hand (i.e., debit) side. ...
- Cash receipts and cash payments of both capital and revenue nature are recorded here
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