Which of the following is accounted for in receipts and p...
Which of the following is accounted for in receipts and payments account?
Accrued expenses on annual dances
Subscriptions due but not yet received
Interest on bank deposit
Depreciation of the club house
Correct answer is C
"A receipt and payment account is a summarized cash book (cash and bank) for a given period"
The bank column would reflect interest on bank deposits
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