Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 38 - No. 10)
When a business receives a cheque from a customer, where is the entry initially recorded in the cash book?
In the cash column, debit side.
In the bank column, debit side.
In the cash column, credit side.
In the bank column, credit side.
Explanation
When a cheque is received, it increases the company's bank balance and is recorded on the debit side of the bank column.
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