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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.
Problem 3: The clients ledger keeps a record of transactions with each individual client.
Problem 4: The trust creditors accounts in the trust creditors ledger do decrease when the investments are made on behalf of the clients.
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