Question

Health journals is a receipt Or a payment?

Answer 1

Answer:

A receipt and payment account is a summarized cash book for a given period”.”This is a summary of the cash transactions as in the cash book”. Non-profit organizations prepare receipt and payment account at the end of the year. With the help of this account and some additional information, we prepare income and expenditure account to disclose the true results of non-profit organizations.

Explanation:

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Answer 2

Answer:

Health Journals are PAYMENT for Health Clubs. Hence they are recorded on payment side of income and expenditure account.