Books of Prime Entry (Ch 1) Flashcards
What is a Sales Day Book (SDB)?
A list of the sales invoices that are to be processed for a given period e.g. a week.
What is a Sales Returns Day Book (SRDB)?
A list of the credit notes that are to be processed for a given period, e.g. a week.
What is a Purchases Day Book (PDB)?
A list of the purchases invoices that are to be processed for a given period, e.g. a week.
What is a Purchases Returns Day Book (PRDB)?
A list of the credit notes that have been received from suppliers for a given period, e.g. a week.
What is a Cash Book?
A record of cash receipts and payments that can form part of the double entry bookkeeping system as well as being a book of prime entry.
What is an Analysed Cash Book?
A cash book with additional columns for analysing principal sources and payments for cash into types of income and expense.
What is a Discounts Allowed Day Book?
A book used to record the discounts that have not been deducted at the point of the invoice being recorded in the sales day book but instead were offered on a conditional basis i.e. prompt payment discounts allowed to credit customers.
What is a Discounts Received Day Book?
A book used to record the discounts that have not been deducted at the point of the invoice being recorded in the purchases day book but instead were offered on a conditional basis i.e prompt payment discounts received from credit suppliers.
What is a Petty Cash?
Petty cash is the small amount of cash that most businesses hold in order to make small cash payments.
What is a Petty Cash Book?
A book in which all petty or smalll payments are made through the petty cash fund are recorded systematically.
