Cash books
10 important questions on Cash books
What is a contra item?
What is a folio column and why is it added?
Where do cash discounts appear?
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What are discounts allowed?
What are discounts received?
What is the journal for a discount allowed?
Where are the discounts allowed and discount received accounts located?
How do you make entries in the discounts accounts in the general ledger?
How can you check if the method of entering discounts is correct?
What is a bank overdraft and where is it shown on a statement of financial position?
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