The summary of receipts and payments account represe...
The summary of receipts and payments account represent?
Cash at hand
Journal proper
General journal
Ledger accounts
Correct answer is A
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 cash at hand.
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Capital.....................N? Profit and loss.............N3500 Current assets..............N? C...
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Sales ledger balances 01/06/12------ 9,000 30/06/12------------------------------------30,000 ...
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The equivalent of a club's Receipt and payment account is ...
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\(\begin{array}{c|c} & ₦ \\ \hline \text{Opening stock of raw materials} & 24,750\\ \tex...