what is exact entry for cash receipts and cash payments?
did sales n purchases invoices are issued to this receipts
n payments?
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Answer Posted / prakash v kanade
Cash account is debited when cash is received and the
credited when paid with corresponding person's account
credited or debited respectively. This is on the
assumption that sale or purchase invoice is generated and
accounted on a previous date.
| Is This Answer Correct ? | 2 Yes | 0 No |
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