Accountancy, asked by aburewatkar8958, 7 months ago

Cash in hand in my cash book is a credit balance. Pl clarify

Answers

Answered by niveshsanjaygarg

Answer:

The cash book is debited when cash is added and credited when it is reduces. Thus, a credit balance in cash book shows reduction in the cash balance to the extent that the final cash balance is negative. This happens when there is an overdraft i.e. we have taken a loan from the bank.

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