The book of account in which information from the source documents are recorded consists of

The accounting entries to record a cheque issued by a business is to

Given:

If Emeka Enterprises settles its suppliers for goods purchased within 7 days, it can earn a cash discount of 12 and half percent. Assuming #22,800 worth of goods were purchased and settled within 5 days, what will be the amount to be credited in the cash column of the company's cash book?

The major advantage of an imprest system is that it