deposits into bank journal
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Answered by
8
When the amount is deposited in the bank, there are two accounts involved, Cash and Bank account.
Cash is a real account and cash is going out so as per the rule of the real account (Dr what comes in Cr what goes out) ,Cash account will be credited and bank account is receiving value so bank account will be debited.
So the journal entry will be-
Bank A/C Dr -------- $XXX
Cash A/C Cr ------------$XXX
Cash is a real account and cash is going out so as per the rule of the real account (Dr what comes in Cr what goes out) ,Cash account will be credited and bank account is receiving value so bank account will be debited.
So the journal entry will be-
Bank A/C Dr -------- $XXX
Cash A/C Cr ------------$XXX
Answered by
3
Journal entry
Bank A/c Dr
To cash A/c
(being amt deposited in bank)
Bank A/c Dr
To cash A/c
(being amt deposited in bank)
sujiritha95:
pls mark it as brainliest answer
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