Journal Entry for Cash in TRANSIT
Pradeephari (Article Assistant ) (24 Points)
25 February 2014Journal Entry for Cash in TRANSIT
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 26 February 2014
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)
CAclubindia
