Match each cash book transaction on the left with its correct entry treatment in a single-column or two-column cash book on the right.
- Cash sales received in hand recorded in a single-column cash bookDebit the cash column
- Payment to a trade creditor by cheque recorded in a two-column cash bookCredit the bank column
- Cash withdrawn from the bank for office use recorded in a two-column cash bookDebit the cash column and credit the bank column
- Interest allowed by the bank recorded in a two-column cash bookDebit the bank column
Cevap
The correct pairings are: 'Cash sales received in hand recorded in a single-column cash book' matches 'Debit the cash column'; 'Payment to a trade creditor by cheque recorded in a two-column cash book' matches 'Credit the bank column'; 'Cash withdrawn from the bank for office use recorded in a two-column cash book' matches 'Debit the cash column and credit the bank column'; 'Interest allowed by the bank recorded in a two-column cash book' matches 'Debit the bank column'.
Cash receipts increase cash asset and are debited to the cash column. Cheque payments reduce bank funds and are credited to the bank column. Withdrawing cash from bank for office use is a contra entry that debits the cash column and credits the bank column. Interest added by the bank increases bank funds and is debited to the bank column.
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Anahtar Kavram
Classification and posting of transactions in single-column and two-column cash books