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Cash account
CASH ACCOUNT

Definition: An account into which only cash is paid, and from which recorded payments are made.
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* All six elements would be in.


1. Purposeful and necessary for the owner.

2. Always in credit, i.e., will be well-funded.

3. Entries - debits and credits - will be correctly entered.

4. Not used for illicit recordings or unlawful transactions.

5. Balanced regularly, as required by law.

6. Serves purpose(s), if operated rightly.
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See perfect GRANT-IN-AID.

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