Question

What is the Journal entry of Cheque deposited into bank.

Answer 1

If the cheque is deposited on the same day then
Bank A/C Dr.
To Debtor Personal A/C
If not deposited on the same day then it will be treated as cash
Cash A/C Dr.
To Debtors Personal A/C
If deposited on the later date the
Bank A/C Dr.
To Cash A/C

Answer 2

The Journal entry for the cheque deposited into Bank are:

Bank a/c         dr

    To Cash a/c

(Being the cheque deposited into bank)

According to the Golden rule of Accounting, Debit what comes in and Credit what Goes out that's why Bank a/c is debited and the Cash a/c is credited. It is a Contra Entry.