SRA Samples
A firm of solicitors is acting on behalf of a client who is selling his property and purchasing a new property.
A deposit of £25,000 has been received in respect of the sale and is held as stakeholder.
Which pair of double entries shows how the receipt of the deposit should be recorded?
A firm of solicitors is acting on behalf of a client who is selling his property and purchasing a new property.
A deposit of £25,000 has been received in respect of the sale and is held as stakeholder.
Which pair of double entries shows how the receipt of the deposit should be recorded?
Credit stakeholder ledger and Debit cash sheet client account
D - Credit stakeholder ledger and Debit cash sheet client account
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