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what is the golden rules of accountancy ?withdrwal frm atm
what will be the transaction ?
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Answer Posted / gaurang vyas
The Golden Rule of Accountancy is whatever comes in is
Debit & Whatever goes is credit.
For Individual who withdraw money from ATM.
- Cash A/C Dr.
-Personal A/C Cr.
For Bank.
- Personal A/C of Bank A/c Holder Dr.
-Cash A/C Cr.
| Is This Answer Correct ? | 9 Yes | 3 No |
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A----------involves transfer of money or moneys worth from one person to another
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