Postings from cash book to concerned ledger accounts

1. Opening (Cash and Bank) balance appearing in the cash book is not posted to any account in the ledger.

2. Contra entries are not posted to any account.

3. Each item of discount allowed appearing on the debit side of the cash book will be posted to the credit of respective personal
account. Total of discount allowed column should be posted to the debit side of discount allowed account with the words
“To Sundry Accounts”.

4. Each item of discount received appearing on the credit side of the cash book will be posted to the debit of respective personal
account. Total of discount received column should be posted to the credit of discount received account with the words “By Sundry Accounts”.

5. The other transactions recorded on the debit side of the cash book are posted to the credit of the respective accounts in the
ledger.

6. The other transaction recorded on the credit side of the cash book are posted to the debit of the respective accounts in the ledger.