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How to prepare a single column cash book?
Let us understand how to make the respective entries in the single column cash book with the help of the given data.
May 1 Cash in hand $50000
May 1 Bank balance $160000
May 4 Received a cheque from a customer “A” of $18000
May 5 Deposited customer “A” cheque in Bank.
May 8 Cash withdrawn from bank for business purpose is $15000
May 11 Goods sold for cash $28000
May 14 Goods bought for cash $53000
May 19 Goods sold for cash $40000
May 21 Paid Mr.B by cheque $16000
May 25 Deposited into bank $18000
May 30 Paid salary in cash $12000
May 31 Paid rent by cheque $7500
The solution is as follows −
|May 4||Customer(Being cheque A/c received)||18000||May 5||Bank A/c(Being cheque deposited)||18000|
|May 8||Bank A/c(Being amount withdrawn)||15000||May 14||Purchases(Being goods bought for cash)||53000|
|May 11||Sales A/C(Being goods sold for cash)||28000||May 25||Bank A/c (Being cash deposited)||18000|
|May 19||Sales A/c(Being goods sold for cash)||40000||May 30||Salary A/c(Being salary paid)||12000|
|May 31||Balance c/d||50000|
|June 1||Balance b/d||50000|
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