Fill in the blanks.

1) The first book of original entry is the Journal.

2) The process of recording transaction into journal is called Journalising.

3) An explanation of the transaction recorded in the journal narration.

4) Trade discount is not recorded in the books of accounts.

5) Cash Discount is concession allowed for bulk purchase of goods or for immediate payment.

6) Every Journal Entry requires Voucher.

7) Cash discount is always recorded in the books of accounts.

8) Voucher is the document on the basis of which the entry is recorded in journal.

9) There are three parties to a cheque.

10) The crossed cheque is more safe than other cheques as it cannot be encashed on the counter of the bank.