No cash account is a permanent account. as u treated cash as a debit element in General journal against of Capital. Capital is a permanent account so cash too.
You write a cash withdrawal as follows: debit cash ; credit bank.
[Debit] Cash account xxxx [Credit] Bank account xxxx
[Debit] Cash account xxxx [Credit] Bank account xxxx
The cash account in the company's ledger is Bank.
# Cash account to Bank account # Bank account to Cash account # Bank account to Bank account
No cash account is a permanent account. as u treated cash as a debit element in General journal against of Capital. Capital is a permanent account so cash too.
Debit Bank account Credit Cash account
You write a cash withdrawal as follows: debit cash ; credit bank.
[Debit] Cash account xxxx [Credit] Bank account xxxx
[Debit] Cash account xxxx [Credit] Bank account xxxx
The cash account in the company's ledger is Bank.
Cash deposit to bank has contra entry as follows: [Debit] Bank account [Credit] Cash account
Cash deposited will be shown in cash column while bank account will be debited to bank account and balance in bank column of cash book while as this is contra entry "C" will be shown in third column for both cash and bank.
1. [Debit] Cash account xxxx [Credit] Bank account xxxx
how to create bank account?
A Contra voucher entry is a transaction involving transfer of cash between one Cash A/c to another or one Cash A/c to another Bank A/c i.e., is a transaction indicating transfer of funds from:Cash account to Cash accountCash account to Bank accountBank account to Cash accountBank account to Bank account