Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 8 - No. 10)
Which of the following is the correct double entry for cash withdrawn from the bank?
Debit Cash, Credit Bank
Debit Bank, Credit Cash
Debit Purchases, Credit Cash
Debit Cash, Credit Purchases
Explanation
Cash withdrawn from the bank increases cash in hand (Debit Cash) and decreases cash at bank (Credit Bank).
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