Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 41 - No. 5)
When a business withdraws cash from its bank account for use in the business, what is the double-entry in the cash book?
Debit Cash, Credit Bank
Credit Cash, Debit Bank
Debit Bank, Credit Cash
Credit Bank, Credit Cash
Explanation
Cash withdrawn increases the cash in hand (debit) and decreases the bank balance (credit).
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