The summary of receipts and payments account represent?

By: |Published on: Dec 3|Categories: Accounting JAMB| 0 comments

A. cash at hand
B. journal proper
C. general journal
D. ledger accounts

Correct Answer:

Option A – cash at hand

Explanation

A receipts and payments account is a summary of actual cash receipts and payments extracted from the cash book over a certain period. It represents the actual cah at hand

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