42-Cheque deposited for collection was honoured and recorded properly by the bank willa.Decrease in Bank book balance.b.Increase in Cash book balance.c.Increase in Bank book balance.d.Decrease in Cash book balance

Cheques deposited and honoured by the bank has the same impact as cash deposited in to the bank…

Answered: 42-Cheque deposited for collection was…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter7: Accounting For Cash

Section: Chapter Questions

Problem 2CE

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42-Cheque deposited for collection was honoured and recorded properly by the bank will

Decrease in Bank book balance.

Increase in Cash book balance.

Increase in Bank book balance.

Decrease in Cash book balance

Definition Definition Financial journal in which only cash-related transactions are recorded. Cash transactions are posted chronologically in the cash book, which is also called a subsidiary book. All the cash receipts are recorded on the debit side and all the cash payments are recorded on the credit side. An important point to remember is that the cash book never shows a credit balance; only a debit balance is shown in the cash book.

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