Give two examples of errors committed by the firm in recording transactions in the cash book.

Asked by Topperlearning User | 15th Jul, 2016, 04:31: PM

Expert Answer:

Errors committed in recording transactions by the firm:

  1. A cheque of Rs.500 received from the debtor was recorded in the cash book but not sent to the bank for collection.
  2. A cheque of Rs.1500 issued by the firm is wrongly recorded as Rs.150 on the credit side of the cash book.

Answered by  | 15th Jul, 2016, 06:31: PM