Question
Below are some entries in the cashbook of Rose Coco Traders for the month of July 2016.
State the meaning of the following entries
a) July 1 2016 Balance b/d bank column 10,000
b) July 6 2016 Cash 20,000 and Bank 20,000
c) July 28 2016 debtors sh 20,000
d) July 31 2016 Balance c/d 10,000
State the meaning of the following entries
a) July 1 2016 Balance b/d bank column 10,000
b) July 6 2016 Cash 20,000 and Bank 20,000
c) July 28 2016 debtors sh 20,000
d) July 31 2016 Balance c/d 10,000
Answer
a)Bank overdraft
b)Contra entry / business cash was banked
c)Cash received from debtors
d)Cash in hand / closing cash in hand
b)Contra entry / business cash was banked
c)Cash received from debtors
d)Cash in hand / closing cash in hand
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