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What is meant by Cash Book with Discount and Bank Column or Three Column Cash Book?
Modern people can’t lead their lives without the presence of banks or similar types of financial institutions as these organizations perform various positive roles for all of us. People are even allowed to make payment and collect money from these firms via checks or drafts.
There are two columns which are provided previously in the cash books and they are:
1. Cash Column.
2. Discount Column.
But, these are not enough as there is a requirement for another column which is the Bank Column. So, from this it is cleared that a cash book possessing a Cash Column, Discount Column and Bank Columnis regarded as the Three Column Cash Book. So, it is mandatory to avail Cash Book with Discount and Bank Column or Three Column Cash Homework Help to clear out all the doubts and problems regarding this topic.
Advantages of Cash Book with Discount and Bank Column or Three Column Cash Books:
Basically, these types of cash books are used to get a proper record regarding the transaction. The details of cash and discounts along with the banks are providedin these cash books. However, the edges of them can be listed down in the following manners:
1. It helps in accounting for the discount received.
2. There is no necessity of the bank tale to maintain the ledger.
3. It records the cash and also makes utilize within the cash accounting.
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