Question

Recieved cash from prarthana₹500.journal entry?​

Answer 1

Explanation:

According to the Rules of Debit and Credit, when an asset is decreased, the asset account is credited . Further , receipt of money from Bank in Cash , it results in increase of Cash, which is an Asset. When an asset is increased, the asset account is debited according to the Rules of Debit and Credit.

Answer 2

Answer:

Explanation:

• Cash a/c dr. 500

To Prarthana a/c cr. 500

(cash received from

prarthana)

[According to the Rules of Debit and Credit, when an asset is increased, the asset account is debited So Cash A/c would be debited and credit the receiver]