Question

Which account is prepared to know cash purchase or cash sales? *​

Answer 1

Answer:

cash

sales

Explanation:

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Answer 2

We are asked the question regarding what type of account is required to be opened for recording cash sales and cash purchases. The account which will have to be maintained can be a cash account.

• All the cash sales and cash purchases will have dealings with cash.
• Either cash will go out of the concern or cash will enter the concern.
• So we can maintain a cash book to record these transactions that take place.
• For credit sales and purchases a debtor and credit account can be opened.
• This cannot be done for cash transactions.
• Therefore, the correct answer will be cash book.

PROJECT CODE: #SPJ3

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