PRC-1 · Chapter 2 · Question 16 of 100
'Silverline Merchants' sold goods for physical cash amounting to Rs. 45,000. How is this transaction initially recorded?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) In the Cash book only
Explanation
All cash receipts, including cash sales, are recorded directly in the cash book. The sales day book is reserved exclusively for sales made on credit.
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