Accounts Payable Question: Download Questions PDF
Do you know how to debit the bank cash book upon withdrawn of cash from the bank?
Answer:
Cash A/c- Real A/c- Debit what comes in & credit what goes out.
Cash withdrawn mean cash comes in so it will be debited
Bank A/C- personal A/C - Debit is receiver & Credit is giver
Bank is giver amount so it will be credited
Contra Entry
Dr.Cash A/C
Cr. Bank A/C
Cash withdrawn mean cash comes in so it will be debited
Bank A/C- personal A/C - Debit is receiver & Credit is giver
Bank is giver amount so it will be credited
Contra Entry
Dr.Cash A/C
Cr. Bank A/C
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