Answered: 10) olo traders has the following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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10)

olo traders has the following transactions for the month of February 2019.

9- Goods purchased and paid cash of RO 2,200

14- Paid Salaries of RO 800

19- Paid cash of RO 2,500 to NBO for the payment of loan.

24- Paid RO 6,600 to Black traders for the goods purchased on credit.

Calculate and show the amount which will be transferred to Others column of Cash payments book for the month of February 2019?

RO 12,100

RO 5,500

RO 2,200

RO 3,300

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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