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  • Writer's pictureThomas Tsang

Cash for money changer

Cash foreign currency kept by money changer for money changing business is cash on hand for sales of foreign currencies. They are cash for transactions or cash as a result of changing transaction.

They should be cash on hand as they are resulted from buying and selling of foreign currencies note. Each transaction is matched. Also, the fact that they are cash as cash in nature and not produced by the money changer.

The accounting concept should adopt the financial sector.

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