asked 104k views
2 votes
received cash from Rajesh rs 30000 was ommited to post in cash account rectify after preparation trial balance ​

1 Answer

2 votes

Answer:

Date Account title Debit Credit

XX-XX-XX Cash Rs 30,000

Account Receivable - Rajesh Rs 30,000

Rajesh is a Receivable so when they pay, reduce the amount they owe by the amount they paid. Doing so would mean crediting their account.

The Cash account will be debited to show that Cash was received because assets like cash are debited when they increase.

answered
User Bengineerd
by
7.8k points
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