Entries for cash and cheque deposits affecting bank account are passed on the basis of ____________.

Withdrawal slip

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Pay in slip

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Cheque

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Receipt

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Solution

The correct option is A Pay in slip
A pay in slip is a document that has 2 parts one is counterfoil and the other longer part is kept with the bank. Pay in slips are serially numbered. It acts as a document of all the entries of deposits in the bank. All the deposit transactions are entered in the bank with the help of pay in slip. They are a proof of all the deposits.

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