purchased furniture from suresh rs 500;cash paid is rs 200. write in cash book.
Hi Ria,
The cash book will record only the amount that is actually received by the firm. In this case Rs 200 has been received and remaining amount Rs 300 would be treated as amount still to be paid (creditors). Accordingly, we will show Rs 200 on the credit side of Cash Book (i.e. payment side).
The cash book will record only the amount that is actually received by the firm. In this case Rs 200 has been received and remaining amount Rs 300 would be treated as amount still to be paid (creditors). Accordingly, we will show Rs 200 on the credit side of Cash Book (i.e. payment side).