started buisness by depositing cheque from his saving account journal entry
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I presume that the savings account belongs to a proprietor or a partner of the business unit. So in effect he is debiting his own savings account and withdrawing money for credit to his business account. This tantamounts to capital being introduced. Hence the journal entry in firms books would be:
Firm's Bank Account …………Dr
To
Proprietor/ Partner's Capital Account.
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