The ledger entries to be made if cash sales is banked is ...
The ledger entries to be made if cash sales is banked is debit
Cash, credit sales
Sales, credit cash
Bank, credit cash
Bank, credit sales
Correct answer is D
Debit Bank Account and Credit sales - this highlights that you have taken the cash “out of your pocket” and put it in to your bank account.
Industry ltd, issued 100,000 shares at ₦1 each out of its Authorized share capital of ₦200,000 a...
i. cash at bank ii. cash in hand iii. premises iv. land ...
In a petty cash book the imprest is N1380. Expenses: Stationery N350 Cleaning material N335 Gene...
The 5% discount shown above indicates ...
Reducing balance method charges depreciating as fixed percentage of the ...
What are accounting entries for bad debts recovered? ...
Nzemaman Local Government incurred the following expenditure in the year 2015. Construction...