1. Cash sales 11. Cash purchases 111. Cash discount allowed 1V. Cash payment V. Cash receiptsWhich of the following are recorded on the debit side of the ca...
Question 1 Report
1. Cash sales
11. Cash purchases
111. Cash discount allowed
1V. Cash payment
V. Cash receiptsWhich of the following are recorded on the debit side of the cash book
Answer Details
The transactions recorded on the debit side of the cash book are "Cash sales" and "Cash purchases." These transactions represent the inflow and outflow of cash for a business.
For example, if a business sells goods for cash, the amount received will be recorded as a debit in the cash book, as it represents an inflow of cash. Similarly, if a business buys goods for cash, the amount paid will be recorded as a debit in the cash book, as it represents an outflow of cash.
"Cash discount allowed" and "Cash payment" transactions, on the other hand, would be recorded on the credit side of the cash book, as they represent a reduction in the inflow or outflow of cash, respectively.
So, the correct answer would be "1 and 11."
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