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Is cash in the bank debit or credit?

Anonymous

∙ 15y ago

Updated: 9/16/2023

Cash you have deposited into a bank is credit

Money to be paid back later is debit

Wiki User

∙ 15y ago

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What is the journal entry for 'Received Fee Income in cash'?

[Debit] Cash / bank [Credit] Fee income

What are some journal entries?

Example of journal entries are as follows: 1 - Start of business [Debit] Cash /bank / goods [Credit] owners equity 2 - Purchase of asset [Debit] Asset account [Credit] Cash / bank 3 - Increase of capital [Debit] Cash / bank [Credit] Owners equity 4 - Decrease in capital [Debit] Treasury Stock [Credit] Cash / bank

What is the double entry for carriage inwards?

Debit Carriage inward expenseCredit Bank (if paid in cash/bank)orCredit Accounts Payable (if accrual)

What entry of outstanding salary paid?

[Debit] Accrued salary payable [Credit] Cash / bank

What is is the journal entry for cash in hand?

debit cash credit bank

Related Questions

Is cash in bank debit or credit?

Debit

Cash sales of 2600 was credited into the bank?

[Debit] cash 2600 Credit sales 2600 Deposited to bank Debit Bank 2600 Credit Cash 2600

What is the journal entry for 'Received Fee Income in cash'?

[Debit] Cash / bank [Credit] Fee income

What are some journal entries?

Example of journal entries are as follows: 1 - Start of business [Debit] Cash /bank / goods [Credit] owners equity 2 - Purchase of asset [Debit] Asset account [Credit] Cash / bank 3 - Increase of capital [Debit] Cash / bank [Credit] Owners equity 4 - Decrease in capital [Debit] Treasury Stock [Credit] Cash / bank

What is the double entry for sale?

Cash/Bank/Accounts Receivable [Debit] Sales[Credit]

What is the double entry for carriage inwards?

Debit Carriage inward expenseCredit Bank (if paid in cash/bank)orCredit Accounts Payable (if accrual)

What is the journal entry for Payment to builders for new building?

[Debit] Building account [Credit] Cash / bank

What entry of outstanding salary paid?

[Debit] Accrued salary payable [Credit] Cash / bank

What is is the journal entry for cash in hand?

debit cash credit bank

How do you account cash sales return?

[Debit] Sales return [Credit] Cash /bank [Debit] Sales [Credit] Sales return

What is the journal entry for cash withdraw?

You write a cash withdrawal as follows: debit cash ; credit bank.

Is the entry to establish a petty cash account a debit to petty cash and credit to cash?

yes. the entry should be: petty cash fund debit cash in bank credit

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