Question

Cheque received from ramesh deposited into bank

Answer 1

Heyya!

3 golden rules

• debit the receiver , credit the giver

• debit what comes in , credit what goes out

• debit all the expenses and losses , credit all the incomes and gains

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reason for debit and credit

Bank A/c - Personal  A/c , where banker receiver the cheques ( cash equivalent)  therefore its debited

Ramesh A/c - personal A/c - where ramesh gives  the money to us , he's the giver therefore its credited

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Journal entry :-

Bank A/c         Dr  

        To Ramesh A/c  

(being cheque received from ramesh )