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