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Books of Prime Entry and Ledgers
Quick questions on The cash book: N(A)-Level Principles of Accounts
4short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What are the discount columns?Show answer
These columns are memorandum: they are not part of the double entry inside the cash book. Their totals are posted separately, the discount allowed total to the debit of the discount allowed account, and the discount received total to the credit of the discount received account.
What is q1?Show answer
State the side of the cash book on which payments are recorded. [1 mark]
What is q2?Show answer
A supplier owed \500\ after cash discount. State the discount and the column it goes in. [2 marks]
What is q3?Show answer
Explain why the cash book does not need a separate cash or bank account in the ledger. [2 marks]
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