Journal Entry for Cash in TRANSIT
Journal Entry for Cash in TRANSIT
Cash in Trasit A/c ----------Dr
To Party A/c
(Being cash in transit)
(Since the we have already booked party as Debtor earlier hence we should have to credit and the receivable is to be debited and the same will be shown as Assets in balance sheet)
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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