Question

Journal entries cash at bank

Answer 1

Answer:

According to the “Golden rules” of accounting. Bank A/c. Debit. Personal account. Debit the receiver. To Cash A/c. Credit. Real account. Credit what goes out. .

According to the “Modern rules” of accounting. Bank A/c. Debit. Asset. Debit the increase in asset. To Cash A/c. Credit. Asset.