received cheque from karan and deposited into bank on the same day ₹500
Answers
Bank a/c dr 500
to Karan (cheque)500
(being received cheque from Karan and deposited into bank)
hope it helps
Bank a/c dr 500
to Karan (cheque)500
(being received cheque from Karan and deposited into bank)
Explanation:
In the question given above we are receive the cheque from Karan of rupees 500. Here we know that bank account is a real account. And bank is also an asset, based on the rule of accounting when assets increase we debit them and when assets decrease we credit them.
Since we are receiving the cheque from Karan we will debit or bank account. Karan is a creditor here I will use the rule which says debit the receiver internet the giver, since Karan is giving us the money will credit his account .
Learn more on journal entry
What is the journal entry for :cash received from bikramjeet on behalf of suhag 10,000
brainly.in/question/4923209
Journal entry of opened a current account in bank of baroda by depositing Rs 75000.
brainly.in/question/4882108