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double entry

Mmadni8y ago
If the owner of a business sells inventory for Rs.600 cash and immediately banks the cash, the double entry for this would be: Dr Bank Rs.600 Cr Sales Rs.600 My question is, Why the entry can't be this way: Dr Cash Rs.600 Cr Sales Rs.600 afterward when the cash is banked: Dr Bank Rs.600 Cr Cash Rs.600
John MoffatJohn MoffatTutor8y ago#1
It can be that way - no problem. Buy why make extra work when it is not needed? :-)
Mmadni8y ago#2
Indeed! Thank you for the help! :)
John MoffatJohn MoffatTutor8y ago#3
You are welcome :-)
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