Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 19 - No. 10)
If a business deposits cash into its bank account, where would this transaction be recorded in the cash book?
Debit in the bank column.
Credit in the bank column.
Debit in the cash column.
Credit in the cash column.
Explanation
Depositing cash increases the bank balance (debit in bank column) and reduces the cash on hand (credit in cash column).
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