CASH BOOK
What is it?
It is a financial journal used to record the receipt and payment of money by the business in the form of cash, or through the business bank account.
It is set up like this ->
The following Cash Book transactions are entered below:
2009
May 1 Balances brought forward for Cash $100 and Bank $2 000
May 2 Cash sales $250. paid directly into the bank
May 3 Bought motor van for cash $200
May 5 Cash sales $ 250
May 8 Paid rent by cheque $150
May 10 Paid wages by cheque $120
May 18 Received cheque of $90 from debtor B.Butler, Discount Allowed $10
May 19 Paid cheque $200 to creditor C. Bare. Discount Received $20
May 22 Received cheque of $50 from debtor S.Combs, Discount Allowed $5
May 24 Paid cheque $30 to creditor V. Bryan, Discount allowed $30
May 24 Withdrew cash from the bank $20 for personal use
May 28 Cash of $20 was deposited to the bank account
