Give a word/term or phrase for each of the following statement:i. The

1.	Give a word/term or phrase for each of the following statement:i. The entry is recorded on both sides of the cash book.ii. Name the account which encourages personal savings.iii. A note was issued by the buyer to the seller giving full details of goods returned.iv. A note was issued by the seller on receipt of defective goods from the customer.v. Name the bank account on which overdraft facility is given to the Account holder.
Answer» i. Contra Entry ii. Saving Account iii. Debit Note iv. Credit Note v. Current Account

Give a word/term or phrase for each of the following statement:i. The entry is recorded on both sides of the cash book.ii. Name the account which encourages personal savings.iii. A note was issued by the buyer to the seller giving full details of goods returned.iv. A note was issued by the seller on receipt of defective goods from the customer.v. Name the bank account on which overdraft facility is given to the Account holder.

Answer»

i. Contra Entry

ii. Saving Account

iii. Debit Note

iv. Credit Note

v. Current Account

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