Question

Journal entry for cash deposited in savings ac

Answer 1

Bank A/C. Dr. Rs.xxx    To Cash A/C Rs.xxx (Being cash deposited into savings A/C)

Answer 2

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

* note - cash deposited in saving bank is same as per contra entry , as if cash deposited in bank .

Cash A/c - real A/c , money goes out of the company therefore its credited

Bank A/c - personal A/c , where banker receives the money therefore its debited

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Journal entry

Bank A/c   Dr  

       To cash A/c          

(being cash deposited in bank)