Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 24 - No. 3)
When a business receives cash from a customer and deposits it into the bank, what entries are recorded in the cash book?
Debit to cash, credit to bank.
Credit to cash, debit to bank.
Debit to bank, credit to cash.
Credit to bank, debit to sales.
Explanation
Cash increases bank balance, so debit the bank account and credit cash.
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