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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
It can be that way – no problem.
Buy why make extra work when it is not needed? 🙂
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