Question

reciept and payment ac is a summary of cash reciept and payment true or false
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Answer 1

Answer:

False. Receipts and payment account records the receipts and payments of all nature. Receipts and payments account records all the cash transactions of the business. It is basically a summary of cash transactions all incomes are recorded on the credit side and expenses are shown on the debit side.

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Answer 2

Answer:

true. true true only ans.