Abstract
Banks are not in business for the buying and selling of goods. A bank’s business is concerned with receiving, paying and the transfer of money. A bank has personal ledgers, and each customer has a separate account. When a customer pays money into the bank, that sum of money is placed at the credit side of the customer’s account. When a customer withdraws money the account in the books of the bank is debited.
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© 1989 Margaret Nicholson
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Nicholson, M. (1989). Bank Reconciliation Statements. In: Accounting Skills. Palgrave, London. https://doi.org/10.1007/978-1-349-10853-4_30
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DOI: https://doi.org/10.1007/978-1-349-10853-4_30
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-49156-0
Online ISBN: 978-1-349-10853-4
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