Cash Book Flashcards
1
Q
What are the heading required for a cash book
A
Debit and credit side
Debit
Date
Details
Cash
Bank
Credit
Date
Details
Cash
Bank
2
Q
Define contra entry
A
Transactions between cash and bank
3
Q
what is discount allowed
Name what account it is placed in
A
Discount given to customer
Statement of profit or loss
4
Q
What is discount received
What account is it placed in
A
Discount recieved by owners
Profit or loss
Above gross payments
