What is a Petty Cash Book? The English word “petty” means “small” or “tiny.” Petty cash book is a book that keeps track of small expenses. The petty cashier is …
Read morePetty Cash Book-Meaning, Advantages, Format, and Classification
What is a Single Column Cash Book? A single column cash book is a book with just one column on the debit and credit side of the amount. It records …
Read moreSingle Column Cash Book-Definition, Format & Features
What is the Difference between Cash Book and Cash Account? The cash book and the cash account record the cash transaction of the organization. Although the cash book and cash …
What is the difference between the Trade Discount and Cash Discount? The nature of the trade discount and the nature of the cash discount are different, so there is a …
Read moreDifference between Trade Discount and Cash Discount
What is Contra entry? If a transaction affects both the cash account and the bank account at the same time, it is called contra entry. Contra entry increases cash and …
Read moreConcept of Contra Entry and Reverse Entry in Cash Book
The seller gives some discount to the buyer from the price of the product sold, this discount is called trade discount. Trade discount is only applicable to the sale and …
What is Discount? A discount is an amount that the seller receives less from the selling price of the product than the buyer, or the amount that the seller receives …
Read moreWhat is Discount, Trade Discount, and Cash Discount?
A Cash book is both a journal and a ledger What is a cash book? Either it is a journal or a ledger or both. In order to provide an …
Read moreRead! Why Cash Book Is Both A Journal And A Ledger?
