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excess cash withdraw from bank for staff salary than remain amount deposited into bank., what will be journal entries for above transactions
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Answer Posted / jitesh sharma
I think this question is related to Over Draft only. Suppose, we had bank balance of Rs. 10,000.00, and we had to paid Rs.15,000.00 for staff salary. In this case if we withdraw from bank Rs. 15,000.00, then entry would be as below:
Cash A/c Dr. 15,000.00
Bank A/c Cr. 10,000.00
Bank Over draft A/c Cr. 5,000.00
(Excess cash withdraw from bank)
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