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When you deposit money into a bank account, it is considered a credit transaction. This is because you are increasing the balance in your account, which is a credit to your account. From the bank's perspective, they are also increasing their liabilities by owing you that money, which is recorded as a credit on their books.
What else can I help you with?
What is the journal entry for check deposited to bank?
DR. Bank (specifying the bank account name) CR. Cheques Under Collection
What will the Journal entry for cheque received from someone and deposited into bank some other day?
cash A/c..................... Dr.. To Party's Name A/c................... Cr..
What is the journal entry to record accrued interest?
Dr. Interest Receivable Cr. Interest Income When Collected. Dr. Cash in Bank Cr. Interest Receivable
Journal entry for payment to suppliers?
debit accounts payablecredit cash / bank
What is the journal entry to record accrued interest income from bonds?
Dr. Interest Receivable Cr. Interest Income When Collected. Dr. Cash in Bank Cr. Interest Receivable
What is the journal entry for check deposited to bank?
DR. Bank (specifying the bank account name) CR. Cheques Under Collection
What does Cr mean at a ATM machine?
Cr stands for "Credit" It refers to a transaction in which money was credited or deposited into a bank account thereby increasing the bank balance of that account. Similarly the debit or withdrawal transactions are marked a "Dr" in the ATM machine statement
What will the Journal entry for cheque received from someone and deposited into bank some other day?
cash A/c..................... Dr.. To Party's Name A/c................... Cr..
How do you record bank overdraft in accounting?
Dr Cash Cr Bank Over Draft
If the mini bank statement says ATM 100 DR then the balance is 179 CR how much is in the bank?
You have Rs. 179 in your bank account as withdrawable balance. The 100 DR is a transaction which says that you took out 100 rupees from your account. The last lime which says 179 CR refers to the current amount of money you have in your account which you can withdraw.
What is the journal entry to record accrued interest?
Dr. Interest Receivable Cr. Interest Income When Collected. Dr. Cash in Bank Cr. Interest Receivable
What is contra voucher?
Contra voucher is use to cash or bank entries. where dr or cr is cash or bank.
How can you pass entry for bank payment?
ABC A/c Dr. 20000.00To Bank A/c Cr. 20000.00
How can enter capital amount?
capital A/C Dr To Bank A/c Cr
Journal entry for payment to suppliers?
debit accounts payablecredit cash / bank
What is the journal entry to record accrued interest income from bonds?
Dr. Interest Receivable Cr. Interest Income When Collected. Dr. Cash in Bank Cr. Interest Receivable
Double entry for Purchase fixed asset?
dr fixed asset cr bank
