Question

Rs 50,00 received from Abc company recorded credit side of cash book. So what will be the rectification entry​

Answer 1

$\bold \pink{ANSWER}$⬇️

WRONG ENTRY:

Abc Dr. 5,000

To Cash A/C 5,000

RECTIFICATION ENTRY:

Cash A/C Dr. 10,000

To Abc 10,000

[PS: RECTIFICATION ENTRY OF DOUBLE AMOUNT TO CANCEL PREVIOUS TRANSACTION WHEREAS PASS A NEW TRANSACTION ]

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