Question

write
any two
features of
receipts
and
payment
account​

Answer 1

Answer:

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Answer 2

Answer:

7).

1. It commences with the opening balance of cash in hand or / and at bank. This is put, naturally, on the debit side.1. It commences with the opening balance of cash in hand or / and at bank. This is put, naturally, on the debit side.

2. Only actual cash transactions will be shown in the account. Receipts of cash (or cheques) are put on the debit side and payments on the credit side. Both receipts and payments are classified under suitable headings.