Accountancy, asked by chandromondal09, 9 months ago

withdrawn from bank for paying Income Tax double column cash book entry

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Answered by puneetgoyal12

Answer:

The withdrawn amount is written in the cash column on debit side and bank column on credit side. Important: The contra entry is made only when the cash is withdrawn for business use. If cash is withdrawn for personal use, it will be recorded only in the bank column on credit side of the cash book

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