Bookkeeping transactions CH2 The books of prime entry Flashcards
1
Q
What does the Sales daybook show?
A
Sales invoices are all recorded in the sales daybook
2
Q
What does the sales returns daybook show?
A
Sales credit notes are recorded in the sales returns daybook
3
Q
What does the Purchases daybook show?
A
Purchases invoices are recorded in the purchases daybook
4
Q
What does the Purchases returns daybook show?
A
Purchase credit notes are recorded in the purchases returns daybook
5
Q
What is recorded in the cashbook debit side?
A
Receipts of money into the business
6
Q
What is recorded in the cashbook credit side?
A
Payments of money by the business
7
Q
What does the sales ledger show?
A
The amount owed by each by each individual credit customer
8
Q
What does the Purchase Ledger show?
A
The amount owed to each individual credit supplier
