The cashbookThe cash book is a book of account which is used to record all money received and all money paid out within a period of time. A cashbook is a book in which all cash transactions are recorded. Note that credit transactions are not recorded in the cashbook. Classes of cashbookThere are four main categories of cashbook. They are:1 .The single-column cashbookThis is concerned only with cash receipts and cash payments.2.The double-column cashbookThe double column cashbook records cash and cheque receipts and payments. It has an additional column for ‘bank’.3 The three-column cashbook The three-column cashbook covers cash and cheque receipts and payments as well as cash discounts given and received. Hence, it has extra columns for cash, bank and discount.4 The petty cashbookThis category of cashbook deals with minor expenses or payments. This unit will consider only the first two classes or categories. The other two will be considered in units two and three of this theme.

Jan 2Jan 3Jan 5Jan 10Jan 15Jan 16Jan 20Jan 28Jan 30

Started business with cashBought goods by cashCash salesPaid for stationeryCash purchasesSold goods for cashReceived cash from JohnPaid salaryPaid rent

N15,0004,0001,5005001,0002,0001,2001 ,000200

QuestionEnter the following transactions in the cashbook of Boluwatife Enterprise for the month of January 2010.