Steps in sequence in the preparation of Receipt and Payment Account will be:
(A) Find out the difference between the total of debit side and the total of credit side
(B) Show the total amounts of all receipts on debit side
(C) Take the opening balance of cash in hand and bank and enter on the debit side
(D) Show the total amounts of all payments on credit side
Choose the correct answer from the options given below:
1
(A), (B), (C), (D)
2
(A), (C), (B), (D)
3
(B), (A), (D), (C)
4
(C), (B), (D), (A)