What is the effect of transaction when cash is paid into the bank

Accounts - Principles of Accounts JAMB 2017

What is the effect of transaction when cash is paid into the bank

  • Bank balance decrease and cash balance increase
  • bank balance decrease and cash balance decrease
  • cash balance increase and bank balance increase
  • cash balance decrease and bank balance increase checkmark

The correct answer is: D

Explanation

Cash balance decrease and bank balance increase: The cash as leaving the cash till and will be deposited into the bank
Previous Question Next Question

Leave A Comment