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)

in our co we are sales of good to branch in order sales+fright, branch made jv entry in own book as full amount debit and credit. now our book show sales without freight but branch shows including freight that why differences is arise due to wrong entry passes pls clarify this entry and this entry is done last year book now balance is finalize.

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