Accountancy, asked by wannaknowmore695, 1 year ago

Cash of Rs. 2500 transferred to petty cash from main cash

Answers

Answered by Sidyandex
1

Cash of Rs. 2500 transferred to petty cash from main cash means the money is deposited into your account.

For journal entry, you can make this transaction as credit transaction.

On the other part, you need to mention the same transaction in your petty cashbook as debited amounts.

If you are withdrawing the amount from your account for personal uses then you must mention it as “drawing A/c Dr.”

If you do not use the money for your personal purpose then you can mention it as “cash A/c Dr.”  

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