Enumerate briefly receipt in accounting terms and prepare a specimen of it.

Asked by Topperlearning User | 16th Jun, 2016, 02:22: PM

Expert Answer:

When a trader receives cash from a purchaser, she/he issues a receipt which contains the date, amount and the name of the purchaser. The original copy is provided to the purchaser and its duplicate copy is maintained to record in the books of accounts.

 

 

  

 

Answered by  | 16th Jun, 2016, 04:22: PM