Question

#give reasons:
Give the reason for bank balance means credit balance as per passbook and debit balance
as per cashbook.
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Answer 1

Explanation:

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The debit balance as per the cash book means the balance of deposits held at the bank. Such a balance will be a credit balance as per the passbook. Such a balance exists when the deposits made by the firm are more than its withdrawals.

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Answer 2

Answer:

according to bank you deposit amount in bank and it is to be paid in later. so they create a liability by crediting your account.

in customers viewpoint you will receive the amount later so create an asset by debiting the bank account

Note. similar as giving loan by one person to another. eg. A give loan to B then in A debit B's loan account as asset(receivable) and B credit A's loan as liability (payable).