Question:
Cash deposited into bank by the proprietor should be recorded in:
Cash deposited into bank by the proprietor should be recorded in:
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Transactions involving transfer between cash and bank are called contra entries.
Updated On: May 31, 2026
- Cash Book only
- Bank Book only
- Both Cash and Bank columns of Cash Book
- Journal Proper
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The Correct Option is C
Solution and Explanation
Concept:
Contra entries affect both cash and bank accounts simultaneously.
Step 1: Identify the nature of transaction.
Cash decreases and bank balance increases. Thus, entry is recorded on both sides of the cash book: \[ \boxed{\text{Both Cash and Bank columns}} \]
Step 1: Identify the nature of transaction.
Cash decreases and bank balance increases. Thus, entry is recorded on both sides of the cash book: \[ \boxed{\text{Both Cash and Bank columns}} \]
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