Question

What are the features of Receipt and Payment Account?​

Answer 1

Explanation:

features of receipts and payment a/c.

• it is a summary of cash book
• only cash transactions are recorded
• cash receipts are debited nd payments are credited
• Receipt and payment of both capital nd revenue nature are recorded.
• Begins with opening balance
• Ends with closing balance.

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Answer 2

Answer:

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