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Voucher is prepared for: 1)Cash receive...

Voucher is prepared for:
1)Cash received and paid
2) Cash/Credit sales
3)Cash/Credit purchase
4)All of the above

A

Cash received and paid

B

Cash/Credit sales

C

Cash/Credit purchase

D

All of the above

Text Solution

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Accounting Voucher is prepared for cash and Credit purchases.

Sales Journal is used for recording cash as well as credit sales.

Knowledge Check

  • A merchant buys 40 bicycles and marks them at 25% above the cost price. He allows a discount on the marked price at 10% for cash sales, and at 5% for credit sales. If three-fourth of the stock is sold for cash and the rest for credit, and if the total profit be Rs. 2025, what is the cost price of a bicycle?

    A
    Rs. 350
    B
    Rs. 720
    C
    Rs. 360
    D
    Rs. 460

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