Question

venkat settled his account by cheque and deposited with the bank journal entry

Answer 1

Answer:

I don't know please tell anyone

Answer 2

A journal is a financial transaction of a firm in an accounting year.

• Since, Venkat has deposited the cheque for settling his account, thus the amount from the bank will be debited.
• The case is of a transaction in a personal account

• The correct journal entry is -

Bank A/c

To Venkat's A/c

(Being cheque deposited in the bank)