Journal entry

Why Axis will be Dr. ?

Originally posted by : Studentsca
	Icici bank dr to dividend received.

ICICI Bank Dr To Dividend

The dividend received by you is deposited in your ICICI bank account. Than entry will be 

ICICI Bank A/c Dr

To Dividend A/c

The dividend received by you is deposited in your ICICI bank account. Than entry will be 

ICICI Bank A/c Dr

To Dividend A/c

There are only six entries in accounts

1 : Dr - the Receiver

2. : Cr - the Giver

3. : Dr - what comes in

4. : Cr - what goes out

5. : Dr. - expense /loss

6. : Cr - Profit/Gain

in the given instance : ICICI is the reciver and Dividend is income. Is there any doubt now ?

In general there is no seventh entry I have come across during my carrier of 30 years in accounts. "Substance shall rule out the Form"