The ____is used for recording
Cash Bank & discount transactions
Answers
Cash Account.
Hope it helps you
Answer:
The single column cash book (also known as simple cash book) is a cash book that is used to record only cash transactions of a business. It is very identical to a traditional cash account in which all cash receipts are recorded on left hand (debit) side and all cash payments are recorded on right hand (credit) side in a chronological order.
The single column cash book has only one money column on both debit and credit sides titled as "amount" which is periodically totaled and balanced like a T-account. As stated earlier, a single column cash book records only cash related transactions. The entries relating to checks issued, checks received, purchase discount, and sales discount are not recorded in single column cash book.