Question

Opened an account in state bank of india by deposting rupees 50,000 accounts journal

Answer 1

holla,,,,
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Journal entry for opened an account in state bank of india by deposting rupees 50,000 in account ;
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Bank a/c dr 50,000
to cash a/c 50,000
(being account oppened by depositing 50,000)•
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¤ • Reason for debit and credit;
• Bank is the receiver of cash so, bank will be debited.
• and cash is going out so, cash will be credited.
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