Question

what is recept at payment account​

Answer 1

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$\implies$Receipts and Payments Account is a report of cash and bank transactions during a period. It is used in place of an income and expenditure statement. In other words, It is a consolidated summary of cash book, prepared for the required period. ... It is updated with every cash or bank transaction or voucher entry.

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Answer 2

Answer:

Receipts and Payments Account is a report of cash and bank transactions during a period.

It is used in place of an income and expenditure statement. In other words, It is a consolidated summary of cash book, prepared for the required period. ...

It is updated with every cash or bank transaction or voucher entry.

Explanation:

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