Question

Drew cash from bank for office use

Answer 1

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

Cash A/c -real A/c , where cash comes in to the business , therefore its debited

BAnk A/c - personal A/c - wheres the bank is giver he gives money to us, therefore its credited

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Journal entry

Cash A/c Dr

To Bank A/c

(being cash withdrawn from bank )

Answer 2

Answer:

Drew cash from bank for office use

Explanation: