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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 / musthafa kotopadan
When receipt cash From debtors
-------------------
Cash A/C DR
Accounts Receivable A/R CR
(cash receipt#256. on invs#.1254)
When Pay cash to creditors
---------------------------
Accounts Payable A/C DR
CASH A/C C/R
(cash Paid#5261. on invs#.4568)
If cash purchase or sale (receipt and payment)
------------------------
Cash a/c dr
Cash sale a/c cr
and
Purchase on cash a/c dr
Cash a/c cr
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