Question

Rupees 620 received from Mohan were posted to the debit of his A/c.

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Answer 1

Answer:

Bank a/c Dr. 620

To mohan's a/c. 620

To rectify, Reverse entry will be passed.

Answer 2

Answer: If the 620 rupees he received from Mohan were recorded as an increase in his account balance, it means that 620 rupees were posted to the debit of his account.

Explanation:

• A debit entry is one that appears on the left side of an account in accounting and denotes an increase in assets, expenses, or losses as well as a reduction in liabilities, equity, or income.
• Two basic accounting ideas—debits and credits—are the keystone of double-entry bookkeeping. A dual entry system is used to record every transaction, and each transaction has an impact on two or more accounts. For the books to balance, the total debits must always equal the full credit. The transaction is represented by the debit entry in Mohan's account, and the corresponding credit entry will be made to the paid account.

As a result, the transaction's entry would be:

Take Rs. 620 out of Mohan's account.

Credit Cash account: Rs. 620

With this transaction, the Cash account's balance would go down by Rs. 620 while Mohan's account balance would rise by the same amount.

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