Question

what will be the entry for "transfered rs 5000 from savings account to current account"​

Answer 1

Answer:

current account..... dr... 5000

to savings account 5000

(being transferred money from savings to current)

Explanation:

the balance of current account increases its an asset to it's debited.

and the savings account balance decreases it's a decreases in assets that's why it's credited.

hoping it's helping you!!!