Clients ledger keeps a record of transactions- true or false

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Problem 1: When a law practice receives money for fees charged to a correspondent, the transaction will be recorded in the business cash payments journal.

True

False

Problem 2: The Legal Practice Act 28 of 2014 (LPA) contains rules relating to the handling of trust money that have to be applied to the accounting records of an attorney's practice.

True

False

Problem 3: The clients ledger keeps a record of transactions with each individual client.

True

False

Problem 4: The trust creditors accounts in the trust creditors ledger do decrease when the investments are made on behalf of the clients.

True

False

Reference no: EM132953524

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