Cash in transit

This query is : Resolved

Guest

Guest (Querist)

27 May 2010 In case of Debtors A/c wat will be the effect of cash in transit.Whether it will be considered.if yes, then how ?

CMA RV Padmakumar.A

CMA RV Padmakumar.A (Expert)
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27 May 2010 i think debtors a/c Not affected by cash in transit...

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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27 May 2010 Agree, debtors a/c will not affected.

Rahul Gupta

Rahul Gupta (Expert)
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28 May 2010 Agree debtors account are not effected. reason is that if we are considering cash in transit then we are considering the money as ours, and so the receipt of debtors is already made. The cash in transit will be shown under cash balance only.