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A receipt for a payment received from the insurance company of $200was recorded on the incorrect side of the cashbook. With the above statement, is

A receipt for a payment received from the insurance company of $200was recorded on the incorrect side of the cashbook.

With the above statement, is that a payment or receipt of money? Which cash book would we correct it in, payments or receipts? Would the entry be double in the corrected cashbook?

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