# Books of Prime Entry

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1. says

Good Day,

appreciate the great help

i just start reading the course notes after lessening to the lectures,

– is it the proper way to go through the syllabus ?
– where i can find the answers for the questions mentioned in the courses to check the accuracy of my initial answers.?

so kind of you to revert

• says

You should have the notes in front of you while you are watching the lectures.

If you look at the contents page of the notes you will find that the answers to all of the examples are at the end.

2. says

I really appriciate your helps with all of these lecture videos.

I have a question: at 16:20 I don’t get what he says. After determining cash 15.000, then what? And why is there a balance of 5.000 in Debit at the end?

• says

This is just an illustration of the account – we are calculating the receivables at the end of the year.
If total sales were 20,000 then we debit receivables with 20,000. If cash received from credit customers was (say) 15,000, then we credit receivables with 15,000.
The end result (the balance) is a net debit of 5,000 – the total we are owed at the end of the period.

• says

Thanks so much. But I am still confused. He adds a balance in credit right after sales, then makes total credit up to 20.000. If debit and credit are both accounted for 20.000 equally, the balance at the end of month should be 0, isn’t it?

• says

There is a debit of 20,000 and a credit of 15,000.
So a net debit of 5,000, which is what we end up with.

The figure on the credit side is the missing figure, or the balance – we then carry it forward to the opposite side.

I think it best if you watch my lecture on double entry to see how we balance of faccounts neatly.

3. says

So it means cash book works as a book of prime entry and as a part of double entry system? At the end of the day’s transactions when we want to complete a double entry for Credit purchases, again we use cashbook as part of double entry system right?
Dr Payable ledger control account
Cr Cash Book

• says

No. The cash book is a book of prime entry.

The total are posted to the cash account, which is part of the double entry.

• says

Would that be a cash account or bank account in the ledgers?

• says

Some companies call it the cash account, some call it the bank account. There is no rule.
Most will call it the cash account.
(If there is also ‘loose’ cash then this is normally called petty cash)

• says

Thank you John. Much appreciated.

• says

Thank you Christine.

4. says

thanks to the people who makes this website work so well and helps many people, we’d never thank you enough for this

5. says

Whoo hoo! I luv it…Am currently doing T1 and T2 and this lecture is so much of a great help…….I received more insite of the topic.Thank you, keep up the gr88888888 job! *wink

6. says

THOUGH AM STUDENT WHO IS AT THE COLLEGE AND AM ON HOLIDAY, I FIND OPEN TUITION TO BE A BIG HELP AND FEEL LIKE AM IN CLASS WHILE AT HOME. KEEP IT UP. ARE YOU PARTNERS OR INDIVIDUAL?

MONICA