If rent paid or salary paid is recorded in the credit side of the cash book, where it is recorded in the receipt and payment account? |
Receipt side of receipt and payment account Payment side of receipt and payment account Both (a) and (b) None of these |
Payment side of receipt and payment account |
The correct answer is option 2- Payment side of receipt and payment account. If an organisation is paid rent or salary to the workers then it is paid by the cash or bank balance, so it is recorded in the payment side of the receipt and payment account. |