Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 1 - No. 24)
What are the items shown in the bank column of the cash book?
Cash transferred from another company
A cheque drawn from the bank account to pay an expense
A credit transfer from the bank current account for the purchase of an asset
Standing order from our bank current account to pay a recurring expense
Explanation
The bank column records transactions involving the bank, such as expenses paid by cheque, assets purchased via bank transfer, and recurring expenses paid through standing orders.
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