what is the journal entry when cash memo is generated
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Cash Memo is one of the documentation for cash transactions between buyer and seller, and the seller prepares it for the cash sales, and the same is given to the buyer on the purchase of goods. It is the documentary evidence for all the cash sales made by the business, and it is proof for cash purchases for the buyer. It is prepared along with a duplicate copy, as the original will be handed over to the buyer, and the seller will retain the duplicate copy.
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cash memo is a cash account which is issued to recorked the cashs purchasing at a bunisess it include quatity , rate and total amount of good sold .
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