Question

journal entry for bank account open On SBI

Answer 1

Hi friend,

Journal entry for this ;-

Bank(SBI) A/c----------Dr. ( Amount )
To Cash A/c ( Amount )

( Being, opened a bank account with SBI)

➡Explanation :- In this , financial transaction we get two types of accounts as follows:-
➡1) Bank A/c and

➡2) Cash A/c

➡So, according to the , golden rule of accounting on the behalf of the real A/c it's treat as a "what comes in debit " and "what goes out credit". Here, the cash deposited at the bank increasing the balance of the bank A/c, so it will be debit and the physical cash held by the business reduces when it deposited at the bank, so it will be credit...i hope it helps you


Mark me as a brainliest...✌

Answer 2

Answer:

Is it banking

Accountancy