Saved Bookmarks
| 1. |
What is the journal entry for cash stolen from cash box? |
|
Answer» Debit loss by theft; credit cash. Debit: Profit & Loss Account, Credit: Cash in HAND or Pretty Cash. The nature of debit is considered as expense & the nature of credit is known as ASSET. Expense increase & Asset DECREASED. If you have an account which is already open for such type of losses then you have to debit such KIND of account. |
|